Bank Nifty Intraday Trade Setup | Feb 5th 2021

Our Buy trade initiated above 34800 as we analyzed yesterday and all targets hit quickly. We already saw almost 5000 points rally in 4 days and weekly expiry is also done so buyers need to be cautious at this level, we have RBI policy tomorrow due to which volatility would be high.

Resistance: 35750
Support: 34800

Expectations: Wild swings and overall a negative day.

Intraday levels for tomorrow:

Buy Above 35400 for the targets of 35500, 35600, and 35700. SL for the Buy Trade would be 35290.
Sell Below 35200 for the targets of 35060, 34900, and 34800. SL for the Sell Trade would be 35310.

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Happy Trading!
InvestPro India Team

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