BANKNIFTY Short Entry – BIG Targets Await!

22 thg 10, 2024

We’ve entered a short trade on BANKNIFTY based on a clear bearish signal at 51733.25. The setup looks strong, and we're now awaiting the targets to hit.

Key Levels

Entry: 51733.25 – Initiated as bearish momentum took hold.
Stop-Loss (SL): 52155.40 – Positioned above the entry to manage risk.
Take Profit 1 (TP1): 51211.50 – First target expected to be reached soon.
Take Profit 2 (TP2): 50367.25 – Next key level to watch.
Take Profit 3 (TP3): 49523.00 – Anticipating continued selling pressure to hit this target.
Take Profit 4 (TP4): 49001.25 – The ultimate target in this short trade.

Trend Analysis

The price is moving decisively below the Risological Dotted Trendline, confirming a strong downtrend. All indicators suggest that the targets are within reach as selling pressure builds.

This is going to be a high profit trade if it works out as per the chart. But, let's be ready for rude surprises and have the trailing stop at 51,748 in worst case scenario.

22 thg 10, 2024

Giao dịch đang hoạt động

TP1 done!