BankNifty Intraday view for 11-01-2021
Good morning all,
Yesterday: Like we predicted, A quick move early in the day and then range bound till the last 45 minutes. The good and bad of that is..... RSI has stayed above 60 but the price has closed at a STRONG resistance zone.
Today: We wait and watch. On the 'Long' side, entry above 38450 ONLY and please do wait for the price to close above that level. If it sustains, then we may see a move. On the 'Short' side, no clarity whatsoever and will update through the day if anything is evident.
So;
Long side view:
Buy above 38450
Target 1 zone 38550
TSL above this
Target 2 - 38780
Target 3 zone 38000 - 38050
(Long SL - 38350)
---------------
Short side view:
NO Clarity right now and
*** 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.
Yesterday: Like we predicted, A quick move early in the day and then range bound till the last 45 minutes. The good and bad of that is..... RSI has stayed above 60 but the price has closed at a STRONG resistance zone.
Today: We wait and watch. On the 'Long' side, entry above 38450 ONLY and please do wait for the price to close above that level. If it sustains, then we may see a move. On the 'Short' side, no clarity whatsoever and will update through the day if anything is evident.
So;
Long side view:
Buy above 38450
Target 1 zone 38550
TSL above this
Target 2 - 38780
Target 3 zone 38000 - 38050
(Long SL - 38350)
---------------
Short side view:
NO Clarity right now and
*** 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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