BankNifty view for the week of 17th - 21st January
Good morning All,
Last week:
Our long move did qualify the entry level and had a pullback from the RSI 70 resistance level. However, lack of any momentum made a sluggish index
This week:
Our entry moves up this time to the target set last week and wait for it move from there to fetch ~500 points. This is dependent on the momentum we achieve and RSI crossing over the 70 mark. on the short side, entry is below 37580 and if it breaks that down, then we may see 37000. With a current daily ATR of ~650 points, both things are possible.
*** 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.
Last week:
Our long move did qualify the entry level and had a pullback from the RSI 70 resistance level. However, lack of any momentum made a sluggish index
This week:
Our entry moves up this time to the target set last week and wait for it move from there to fetch ~500 points. This is dependent on the momentum we achieve and RSI crossing over the 70 mark. on the short side, entry is below 37580 and if it breaks that down, then we may see 37000. With a current daily ATR of ~650 points, both things are possible.
*** 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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