BankNifty view for the week of 25th - 29th October
Good evening all,
Mount 40000 achieved last week and reached almost 40600 to settle at 40300. What next? Between here and 40750 is a strong resistance zone and we wait for that to be breached if we are to see 42200. With a 14 day ATR of ~570 points, Monday again becomes important for us.
Also, the current level forms of 1000 points range between 40300 and 39300 where it took support. If it breaks that level, we may see a drop of 800 points to 38450.
So, be aware and trade accordingly, wait for the long and short both.
*** 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.
Mount 40000 achieved last week and reached almost 40600 to settle at 40300. What next? Between here and 40750 is a strong resistance zone and we wait for that to be breached if we are to see 42200. With a 14 day ATR of ~570 points, Monday again becomes important for us.
Also, the current level forms of 1000 points range between 40300 and 39300 where it took support. If it breaks that level, we may see a drop of 800 points to 38450.
So, be aware and trade accordingly, wait for the long and short both.
*** 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 of 38450 achieved
