ChartMantra

BankNifty Intraday view for 14-01-2021

NSE:BANKNIFTY   Nifty Bank Index
Good morning all and Happy Makar Sankranti,

Yesterday: We made 2 targets n then the market went in range. Not exactly a volatile expiry.

Today: Again we have a decent setup offering us a potential trade on both sides. The RSI hovering around 50 is also a good indicator of that. Another possibility is the range between 38250 and 38550 that may stick itself.

So;
Long side view:
Buy above 38580
Target 1 - 38660
TSL above this
Target 2 zone 38790 - 38800
Target 3 - 38850
(Long SL - 38500)
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Short side view:
Sell below 38400
Target 1 zone 38275 - 38210
TSL below this
Target 2 - 38125
Target 3 zone 38030 - 38000
(Short SL - 38500)

*** This is a view and not necessarily a trade recommendation ***
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