Banknifty Shorting Opportunity [21st Jan 2021]

Shorting opportunity in Banknifty future if it opens below 32490 with a Stop Loss @ 32620. In case, if Banknifty opens above 32620 and hold for some time then please avoid the setup.

Tomorrow morning look for any rejection candlestick patterns like Bearish Engulfing, Hammer, Shooting Star or any other.

1st Target: 32380-32390
2nd Target: 32240-32260
3rd Target: 32125-32140
4th Target: 32040-32060

In case Banknifty breaks 32000 level, then 31500 might be tested. However, 32000 acts as strong support zone. So, better trade cautiously

Happy Trading!!

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