Bank Nifty Update for 25th October 2021

Bank Nifty Update for 25th October 2021
==============================
BANKNIFTY Index is trading at all time high levels as it has recently given a breakout of flag and pole pattern which is a bullish price action pattern.

Here's the trade setup for today:

INDEX has formed a Harmonic ABCD pattern:
For buying:
The pattern will be activated above 40,600 and a bullish momentum will be seen if the price sustains above it.

Possible targets on the upsides are 40,800/41.000/41,100

For Short:
Short will only be activated below 40,000 levels, but keep this in mind that room in downside is limited till 39,900

Instead you can also consider a long position if the price comes to the support levels of 39,900-39,800

Trade setup
==============

Key support is: 39,900
Key Resistance is: 40,500

Trade Accordingly!

CodeViser

Telegram : t.me/Codeviser
Website: codeviser.org
Follow us on Twitter: twitter.com/CodeVisers
Our Facebook Page: facebook.com/Codevisers
Youtube: youtube.com/c/CodeViser

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

CodeViser

Telegram : t.me/Codeviser
Website: codeviser.org
Follow us on Twitter: twitter.com/CodeVisers
Our Facebook Page: facebook.com/Codevisers
Youtube: youtube.com/c/CodeViser

Also on: