BANKNIFTY for couple of weeks (Year end 2021)

BNF has done 61.8% retracement from the low of 19-Apr to the high of 25-Oct (6 months). If the current low of 34345 is held then I am expecting a min 50% retracement till 37722. Finally the 33398 is the (23.6% retracement from Mar20 low to Oct21 high) LOC for bulls.

Trade closed manually:

BNF has achieved 50% retracement of 35755 from the high made on 13-Dec to the low of 20-Dec. So expecting some resistance at this level. so expecting some pull back and need to see how it goes. As of now closing the trade as NIFTY also achieved 50% retracement.

Comment:

I think BNF is unstoppable till 37722 which is 50% retracement of the fall from Oct-Dec. Let see how it goes but I am out the trades and waiting for the reversals. I may be wrong but will wait for the right setup.