BankNifty Intraday view for 25-01-2021

Good morning all,

Yesterday: Our 2 short targets identified in the weekly chart were met and then we saw a pullback. In likelihood, correction will continue.

Today: With RSI at 40, we may either see the index in a range of 2500 points or a 'Short' move only below 35850. 'Long is a far way up beyond 38850. But be careful of the volatility that currently prevails.

So;
Long side view:
Buy above 38855
Target 1 - 39470
TSL above this
Target 2 zone 40000 - 40150
(Long SL - 38170)
---------------
Short side view:
Sell below 35850
Target 1 zone 35055 - 35000
TSL below this
Target 2 - 34570
Target 3 zone 34020 - 34000
(Long SL - 36430)

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