As we posted banknifty anylysis yesterday we executed the trade as per our levels which worked perfectly and captured 200 points in todays(08-06-23) market.
This Analysis is continuation to the previous analysis.
As Market closed at 43995, If we apply Fibonacci levels on todays movement 44144 to 44182 is the retracement zone. Where there is a high probability for a reversal from that zone.
If market moves up to 44144, will wait for bearish candle to form near that zone and then we can take a sell position.
And the Targets would be
Target 1: 43917 Target 2: 43802 and Target 3: 43655
Hope you find some value in my analysis.
Thankyou.
Trade safe
This Analysis is continuation to the previous analysis.
As Market closed at 43995, If we apply Fibonacci levels on todays movement 44144 to 44182 is the retracement zone. Where there is a high probability for a reversal from that zone.
If market moves up to 44144, will wait for bearish candle to form near that zone and then we can take a sell position.
And the Targets would be
Target 1: 43917 Target 2: 43802 and Target 3: 43655
Hope you find some value in my analysis.
Thankyou.
Trade safe
Trade Safe.