#banknifty 20 DMA placed at 40,183 and -2 Standard Diviation is placed at 38,440, so below 40,182, 38,440 becomes a logical target.
Laxman Rekha for next week is 39,550 (If the price crosses above, don't be short)
The market is expected to take support from 38,541 to 38,790 levels and bounce, 38K doesn't look like to get violated.
This is a knee-jerk before the final upmove near Diwali to offboard all the longs.
Laxman Rekha for next week is 39,550 (If the price crosses above, don't be short)
The market is expected to take support from 38,541 to 38,790 levels and bounce, 38K doesn't look like to get violated.
This is a knee-jerk before the final upmove near Diwali to offboard all the longs.