BANKNIFTY VIEW FOR 21-12-2022

BANKNIFTY

Banknifty key levels are marked on chart.

Intraday resistance - 43450 if breaks then bullish move is expected.
If it doesn't break and if drift below 43350 then a fall towards the major Support is possible.

Fib - Retracement - Banknifty downtrend has retracement of 0.382. the reversal is most likely.
Major Support - 42950.


Use position sizing according to your stoploss level.

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Commento:

opened gap -up and triggered reversal short entry and also broken the major support mentioned 42950 and crashed 600 points.