BankNIfty Trade Plan for 05 November
on 4th November, BankNifty played according to plan shared for 4th November. First dip was below 25750 and stopped at 25425 level which was a long trade. It never broke SL 24900 and closed near day high at 25800. Now 25425 will act as a very good support. Below are the plans for 5th November.
1. As long as 24900 holds, any dips towards 25444 is buy on BankNifty . Positional target can be 26350/26700/27800.
2. Go long above 25800 with SL of 25630 for target similar to positional target. This can be intraday trade.
3. Look for ICICI bank and HDFC bank charts. ICICI bank gave massive breakout on 3rd November and HDFC bank gave breakout on 4th November. If any of this two give failed breakout, be cautious on longs. Longs safe as long as 24900 holds in BankNifty .
4. If trades below 24750 and sustains, go short with SL of 24900 for target of 24550/24425. Again look into ICICI bank and HDFC bank chart for more clarity.
1. As long as 24900 holds, any dips towards 25444 is buy on BankNifty . Positional target can be 26350/26700/27800.
2. Go long above 25800 with SL of 25630 for target similar to positional target. This can be intraday trade.
3. Look for ICICI bank and HDFC bank charts. ICICI bank gave massive breakout on 3rd November and HDFC bank gave breakout on 4th November. If any of this two give failed breakout, be cautious on longs. Longs safe as long as 24900 holds in BankNifty .
4. If trades below 24750 and sustains, go short with SL of 24900 for target of 24550/24425. Again look into ICICI bank and HDFC bank chart for more clarity.
Comment:
1st positional target 26350 reached. Remember this positional target was the plan from last few days after 24900 was broken
Comment:
2nd Positional Target of 26700 reached.