ChartMantra

BankNifty Intraday view for 25-10-2021

ChartMantra Updated   
NSE:BANKNIFTY   Nifty Bank Index
Good evening all,

Friday: We saw our long target being achieved and then some more. But we also saw a good movement on the other side to about 38.2% and then settle at 23.6%. Both these being Fib Retracement levels.

Tomorrow: So from here, either it goes up to point 0 or back down to 38.2%.... Both these being our entry levels. That's it.

So;
Long side view:
Buy above 40600
Target 1 zone 40700 - 4750
TSL above this
(Long SL - 40500)
---------------
Short side view:
Sell below 40150
Short Target 1 - 40000
TSL below this
Target 2 zone 39915 - 39875
Short Target 3 - 39775
(Short SL - 40300)

*** This is a view and not necessarily a trade recommendation ***
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Trade closed: target reached:
Long target reached
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