BankNifty view for the week of 20th - 24th December
Good evening all,
Last week:
We saw a the continuation down after a pull back from the previous one. This was necessary and a good one of between 50% and 61.8%. This provided us a good structure on both sides for the last week and next.
This week:
Our entry point is below 34800 with a potential target of 800 points on the short side. On the long side, we wait for 38000 to be breached for a target of 200 points/ But not a good RR ratio there.
*** 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.
Last week:
We saw a the continuation down after a pull back from the previous one. This was necessary and a good one of between 50% and 61.8%. This provided us a good structure on both sides for the last week and next.
This week:
Our entry point is below 34800 with a potential target of 800 points on the short side. On the long side, we wait for 38000 to be breached for a target of 200 points/ But not a good RR ratio there.
*** 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:
Short Target achieved in 1 day. A good 800 points