ChartMantra

BankNifty Intraday view for 05-01-2021

ChartMantra Updated   
NSE:BANKNIFTY   Nifty Bank Index
Good evening all,

Today: Upward momentum broken and nicely poised for tomorrow. Like I mentioned, profit booking early in the day.

Tomorrow: We may see a range bound market between 37890 and 37000. For any good movement on either side, we need these levels to be breached. RSI too at 56 and can go any direction from here.

So;
Long side view:
Buy above 37890
Target 1 zone 38000 - 38045
TSL above this
Target 2 - 38240
Target 3 - 38440
(Long SL - 37750)
---------------
Short side view:
Sell below 37000
Target 1 zone 36890 - 36825
TSL below this
Target 2 - 36690
Target 3 - 26520
(Short SL - 37115)

*** This is a view and not necessarily a trade recommendation ***
However, If you like my idea..., hit like, follow me, and do spread the word.
Trade closed: target reached:
Long Target 1 achieved
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.