Banknifty- Probable fall continuation
Banknifty (Positional)- Probable fall continuation, if Hourly candle closing below the violet trendline, the most likely it might go till 16800 or even till 15300 levels (for completion of a harmonic pattern).
Entry upon confirmation only. Candle closing below trandlin and/or rejections shown once below trendline.
Disclaimer: These are just my views - kindly do NOT trade blindly with these levels, please do your own research before entering/ or as per advice from your own financial adviser.
Note: All the values given are in Banknifty spot price chart. And also not this is NOT for intraday
Entry upon confirmation only. Candle closing below trandlin and/or rejections shown once below trendline.
Disclaimer: These are just my views - kindly do NOT trade blindly with these levels, please do your own research before entering/ or as per advice from your own financial adviser.
Note: All the values given are in Banknifty spot price chart. And also not this is NOT for intraday
Trade active:
Seems a good breakdown and rejection - entering short for One lot only.
SL present above 20000 spot (will change later depending on the candlestick pattern.)
SL present above 20000 spot (will change later depending on the candlestick pattern.)
Comment:
SL trailed to 18500 spot (will be exiting if bullish strength is seen)
Entry was about 19550 Spot price, for a TGT of about 16800 - 17000 (2500+ Point Tgt) and SL 20000-20500 (about 1000 Points SL).
Present Price around 17550 that's about 2000 Points from entry.