BANKNIFTY gearing up for the next move12-Feb-2018:
Banknifty is likely to remain range bound within 25940 on the higher side and 25320 on the lower side until the next trigger. The mid of this range roughly being
the 25650 level zones.So, here are a few scenarios, look to short on rise for targets of 25450. and look to long near 25400 for targets of 25600.
break of this zone can re test 25050 on the downside and 25940 on the upside. #BNF #BANKNIFTY.
Bnf
banknifty extending the trendline channel.#BNF #banknifty futures has a consolidation zone @ 27340-27450 levels. Upside projections fr short term @ 27720 zone. break of 27340 can initiate a swing short. good confirmation will be break of 27130 levels. I'm will be in hunt for a good swing short, till then play along the market as the price action emerges.
The steeper it gets on the upper trend line the merrier it will be on the downside
Symmetric Triangle on Bank Nifty - Neutral Symmetric Triangle on Bank Nifty and it may break either side. BNF having limited upside due to EMA 50 lying on near to 18395, so price trend is downside. However, this triangle may break either side. "Safe Trade"
Trade (Spot Price)
Long:
Buy above - 18335
Target - 18395
Stop Loss - 18285
Reward Points - 60
Risk Points - 50
Short
Short below - 18280
Target 1 - 18225
Target 2 - 18185
Stop Loss - 18335
Reward Points - 95
Risk Points - 55
-Happy Trading-