BankNifty - Nice fall today | Expect bounce
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BankNifty had a great fall today during the second half of the session.
Nifty and BankNifty both have fallen quite considerably during the previous few sessions and thus we can expect a retrace upwards,
The view on the market will remain bearish and the idea would be to keep shorting bounces on an intraday level for the next few days until there is a change in market trend.
Stocks also can be shorted during this time. Especially focus on weak stocks for the underperforming sectors for shorting!
Important levels:
R2 - 21,500
R1 - 22,000
Now - 22078
S1 - 21,000
S2 - 20,000
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
Cut your losses and re-enter if required rather than hoping!
Before you start reading kindly hit that like button. It motivates me to keep doing such work for free.
Thanks
BankNifty had a great fall today during the second half of the session.
Nifty and BankNifty both have fallen quite considerably during the previous few sessions and thus we can expect a retrace upwards,
The view on the market will remain bearish and the idea would be to keep shorting bounces on an intraday level for the next few days until there is a change in market trend.
Stocks also can be shorted during this time. Especially focus on weak stocks for the underperforming sectors for shorting!
Important levels:
R2 - 21,500
R1 - 22,000
Now - 22078
S1 - 21,000
S2 - 20,000
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
Cut your losses and re-enter if required rather than hoping!