BankNifty Intraday view for 06-01-2021
Good evening all,
Today: For the 3rd day in a row, momentum carried through and gave us 700 points today from our entry level.
Tomorrow: First weekly expiry of the year and we may see some volatility basis earlier momentum and profit booking. So be careful. 'Long' will be sustained only above 38000 and there is absolutely no clarity on 'Short'. I will update the 'Short' view basis tomorrow mornings movement.
So;
Long side view:
Buy above 38050
Target 1 - 38240
TSL above this
Target 2 - 38440
Target 3 - 38540
(Long SL - 37890)
---------------
Short side view:
TOMORROW MORNING
*** 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: For the 3rd day in a row, momentum carried through and gave us 700 points today from our entry level.
Tomorrow: First weekly expiry of the year and we may see some volatility basis earlier momentum and profit booking. So be careful. 'Long' will be sustained only above 38000 and there is absolutely no clarity on 'Short'. I will update the 'Short' view basis tomorrow mornings movement.
So;
Long side view:
Buy above 38050
Target 1 - 38240
TSL above this
Target 2 - 38440
Target 3 - 38540
(Long SL - 37890)
---------------
Short side view:
TOMORROW MORNING
*** 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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