BANKNIFTY [22nd October 2020]
The day closed with an indecisive doji, but worthy of noticing that it closed above 24500 (approx. where its 50% retracement level from ATH lies). The index might consolidate for a day or two between 24200 & 24800.
LONG, if the index sustains above 24500 for targets of 24800-25050-25200. Ideally one should look to go long @ around 24200 if it makes a dip and takes support there.
SHORT, if the index trades below 24500 for targets of 24350-24200-24000-23800. Ideally one should short only if there is evident weakness around 24800.
LONG, if the index sustains above 24500 for targets of 24800-25050-25200. Ideally one should look to go long @ around 24200 if it makes a dip and takes support there.
SHORT, if the index trades below 24500 for targets of 24350-24200-24000-23800. Ideally one should short only if there is evident weakness around 24800.
Feragatname
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