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ChartMantra
Jan 6, 2022 5:38 PM

BankNifty Intraday view for 05-01-2021 

Nifty Bank IndexNSE

Description

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
Comments
bkeswaran15
Thanks very Very Thanks Sister
Deepak_Budhiraja
bhai Dislike ka button bhi dena chahye Tradingview ko, do you even know what is the condition of ABCD pattern formation?
ChartMantra
@Deepak_Budhiraja

Wow.... aap uljhe raho apne conditions mein and let me trade on my views. All the best.
ChartMantra
@Deepak_Budhiraja

and my dear friend, be nice enough to explain the difference between XABCD and ABCD. if you know... that is
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