BANKNIFTY | 18JAN2021 | BEARISH SETUP

Explanation on chart.

32400.20 is my manual level which coincides with FIB PROJECTION with a difference less than 10 points, which is negligible.

Expecting correction to be in intraday level at least before it breaks ATH.

Follow the Purple and Orange lines for intraday for 3rd week of JAN 2021 unless broken.

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Be warned that HDFC BANK Q results have been positive and it could turn BULLISH. So act accordingly.

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3 PM UPDATE :

BANKNIFTY whole day turned out to be BEARISH just as I forecasted.

Fantastic trade opportunities whole day.

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Let's monitor the movement from here after. Expecting more fall or sideways for JAN closing.

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31725 my target reached

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As I expected 2 weeks correction gave good DOWN movement

Now broke with extreme bullishness (due to budget)

Rally begins...!