BankNifty Intraday view for 01-11-2021
Good evening all,
Friday: Since I wasn't available for the past three days, I will stay away from providing any analysis on something that I had no view on.
Tomorrow: While my weekly view is inclined on a short, we will look at rise and dips through Monday and Tuesday and trade accordingly. The dynamic resistance line from 27th November was breached on Friday and is entry-able only after 39775. Also, keep an eye for the 38750 level which has provided a support twice already. Below that and we see a dip. So, in all a 1000 point range which also may be possible.
So;
Long side view:
Buy above 39775
Target 1 40000
TSL above this
Target 2 - 40375
Target 3 - 40820
(Long SL - 39550)
---------------
Short side view:
Sell below 38750
Short Target 1 zone 38500 - 38375
TSL below this
Short Target 2 zone 38210 - 38150
(Short SL - 39000)
*** 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.
Friday: Since I wasn't available for the past three days, I will stay away from providing any analysis on something that I had no view on.
Tomorrow: While my weekly view is inclined on a short, we will look at rise and dips through Monday and Tuesday and trade accordingly. The dynamic resistance line from 27th November was breached on Friday and is entry-able only after 39775. Also, keep an eye for the 38750 level which has provided a support twice already. Below that and we see a dip. So, in all a 1000 point range which also may be possible.
So;
Long side view:
Buy above 39775
Target 1 40000
TSL above this
Target 2 - 40375
Target 3 - 40820
(Long SL - 39550)
---------------
Short side view:
Sell below 38750
Short Target 1 zone 38500 - 38375
TSL below this
Short Target 2 zone 38210 - 38150
(Short SL - 39000)
*** 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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