BankNifty Intraday view for 12-10-2021

Good evening all,

Today: Something had to give..... and it did. A new ATH and move of 475 points from our entry level. Hope you made some good money today. This because the the index was making higher lows consistently for the past few sessions forming an ascending traingle and had to break out at some point.

Tomorrow: The multiple harmonic patterns on my chart are only to punctuate the point that the index reached the reversal zone today at around 38500. From here if it has to go up (daily chart indicates 38650), we need a strong pull back. And, that is what we will wait for.

So;
Long side view:
NO CLEAR VIEW
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Short side view:
Sell below 37920
Short Target 1 zone 37710 - 37675
TSL below this
Target 2 - 38450
Target 3 - 38365
(Short SL - 38100)

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