Short BANKNIFTY below 21640, Trendline & Channel Breakout!
BANKNIFTY looks week below 21640 so we might be entering Short trade if moves below 21640.
In the banknifty 30 minute chart we can clearly observe that price was moving in a channel between green & black line which was eventually breached.
But it took support at the red trendline and again retraces till lower side of channel and falls again and breaks red trend line.
Now it shoes some retracement which eventually moves Banknifty Down if this setup works, thus we will be entering short in BANKNIFTY below 21640 for Targets of 60,150,300,500+ points as our targets and sl as per your risk but technically support was available around 21950-22000.
Always maintain Risk : Reward ratio.
Regards,
In the banknifty 30 minute chart we can clearly observe that price was moving in a channel between green & black line which was eventually breached.
But it took support at the red trendline and again retraces till lower side of channel and falls again and breaks red trend line.
Now it shoes some retracement which eventually moves Banknifty Down if this setup works, thus we will be entering short in BANKNIFTY below 21640 for Targets of 60,150,300,500+ points as our targets and sl as per your risk but technically support was available around 21950-22000.
Always maintain Risk : Reward ratio.
Regards,
