BANK NIFY PRE BUDGET RALLY ???
Updated
On hourly charts , bank nifty take support near 40000 to 39600 level. This is very crucial level because 2 reasons
1. We draw Fibonacci from bottom to top then 39730 level is 0.382 % retracement level.
2. 40000 is big psychological level and also bank nifty fall from 43000 to 39600 which is 3500 point rally with no retracement.
By above logic we could expect correction upto 40700 level. Enter
only when hour candle closes above 41000 level. Trade with stoploss. see you soon!!
1. We draw Fibonacci from bottom to top then 39730 level is 0.382 % retracement level.
2. 40000 is big psychological level and also bank nifty fall from 43000 to 39600 which is 3500 point rally with no retracement.
By above logic we could expect correction upto 40700 level. Enter
only when hour candle closes above 41000 level. Trade with stoploss. see you soon!!
Note
near target achieved
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