BankNifty Intraday view for 17-11-2021
Good evening all,
Today: After a long wait and almost having given up, out 'short' entry arrived and gave around 130 points. Lack of time prevented it from us achieving our fist target. Which also means, we may expect a gap down to around 38115 tomorrow morning. Another good thing in today's move was the structure it built for us take a 'long' entry tomorrow if it moves that way.
Tomorrow: The down move if has to sustain has to breach the 38110 mark. That however, is a strong support zone and then the psychological next step of 38000. So, sell only after 37950 for a potential target of 37710. On the 'long' side, above 38539 and then a steady climb.
So;
Long side view:
Buy above 38539
Target 1 - 38750
TSL above this
Target 2 zone 38930 - 39000
Target 3 - 39115
(Long SL - 38350)
---------------
Short side view:
Sell below 37950
Target 1 - 37710
TSL below this
(Short SL - 38110)
*** 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: After a long wait and almost having given up, out 'short' entry arrived and gave around 130 points. Lack of time prevented it from us achieving our fist target. Which also means, we may expect a gap down to around 38115 tomorrow morning. Another good thing in today's move was the structure it built for us take a 'long' entry tomorrow if it moves that way.
Tomorrow: The down move if has to sustain has to breach the 38110 mark. That however, is a strong support zone and then the psychological next step of 38000. So, sell only after 37950 for a potential target of 37710. On the 'long' side, above 38539 and then a steady climb.
So;
Long side view:
Buy above 38539
Target 1 - 38750
TSL above this
Target 2 zone 38930 - 39000
Target 3 - 39115
(Long SL - 38350)
---------------
Short side view:
Sell below 37950
Target 1 - 37710
TSL below this
(Short SL - 38110)
*** 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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