BankNifty Intraday view for 09-11-2021
Good evening all,
Today: We saw the 39300 level breached and made us achieve 2 targets. This probably is a well received pull back if the market has to go up.
Tomorrow: With RSI at 50, the market can go either ways. On the way up, I still hold my view above 40160 and below 38785 for a good move. With a daily ATR of 700 points, this range 1300 points may just bore us tomorrow. But keep an eye. Why? the multi day support line has still not broken and around 1200 points below at this stage. We may see the south bound continuation.
So;
Long side view:
Buy above 40160
Target 1 zone 40350 - 40415
TSL above this
Target 2 - 40585
Target 3 zone 40830 - 40880 ( not marked on the chart due to lack of space)
(Long SL - 40000)
---------------
Short side view:
Sell below 38785
Target 1 zone 38615 - 38585
TSL below this
Target 2 zone 38500 - 38430
(Short SL - 38950)
*** 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.
Today: We saw the 39300 level breached and made us achieve 2 targets. This probably is a well received pull back if the market has to go up.
Tomorrow: With RSI at 50, the market can go either ways. On the way up, I still hold my view above 40160 and below 38785 for a good move. With a daily ATR of 700 points, this range 1300 points may just bore us tomorrow. But keep an eye. Why? the multi day support line has still not broken and around 1200 points below at this stage. We may see the south bound continuation.
So;
Long side view:
Buy above 40160
Target 1 zone 40350 - 40415
TSL above this
Target 2 - 40585
Target 3 zone 40830 - 40880 ( not marked on the chart due to lack of space)
(Long SL - 40000)
---------------
Short side view:
Sell below 38785
Target 1 zone 38615 - 38585
TSL below this
Target 2 zone 38500 - 38430
(Short SL - 38950)
*** 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.
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