Banknifty- a bullish candidate for next week.
Idea- Buy above 43160 closing on 15min
Target- 43422, 43746,44000
(All Prices are from spot)
Reason:
1. A breakout on 1hour time frame and a pullback
2. Price at 0.5 Fib level.
3. A low risk and a high reward trade.
4. Rsi at 60
5. Volume low on downside move and high on hammer, this shows buying interest as per volume spread analysis.
Idea- Buy above 43160 closing on 15min
Target- 43422, 43746,44000
(All Prices are from spot)
Reason:
1. A breakout on 1hour time frame and a pullback
2. Price at 0.5 Fib level.
3. A low risk and a high reward trade.
4. Rsi at 60
5. Volume low on downside move and high on hammer, this shows buying interest as per volume spread analysis.