BANKNIFTY
Bank Nifty - Weekly trade - BEARISH View - 28th Dec EOD
BN has fallen towards the end of the day.
BN has given a RED candle in HA hourly chart.
The RSI has also gone below it's 14d average.
There is strong resistance at 43000 & the bounce back in the recent fall has happened at 41500. Hence, that might act as a support this time.
So, my bearish view with BN range of 41500 to 43000 for the 5th Jan expiry.
If BN goes above 43000 & closes above it on the hourly chart, I'll change my view to mildly bullish.
If BN goes below 41500 on hourly chart, I'll change my view to very bearish.
Trade closed: target reached:
The max profit for 1 lot is 13k. We have got 11k profit now & hence closing this strategy.