BankNifty view for the week of 18th - 22nd October
Good morning All,
Starting today, I will also be posting my near term view on BNF. Every Sunday, along with Intraday view for Monday.
And here it goes...
Mount 40,000? Well, the daily chart sure does suggest that basis following considerations:
1) One key reversal point at 39000 being comfortably breached on Thursday
2) Index was in a channel forming higher highs and has broken out from there too
3) Next key reversal point is 40,000 - 40,200
So keep an eye for what happens on Monday and we'll know what direction we will be trading the entire week.
*** 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.
Starting today, I will also be posting my near term view on BNF. Every Sunday, along with Intraday view for Monday.
And here it goes...
Mount 40,000? Well, the daily chart sure does suggest that basis following considerations:
1) One key reversal point at 39000 being comfortably breached on Thursday
2) Index was in a channel forming higher highs and has broken out from there too
3) Next key reversal point is 40,000 - 40,200
So keep an eye for what happens on Monday and we'll know what direction we will be trading the entire week.
*** 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.
Comment:
40000 achieved and reversed
Trade closed: target reached:
40200 acheived
