BANKNIFTY - Perfect Retest!

٢٣ يناير ٢٠٢٢

Recently we saw a major crash in indices with NASDAQ leading the way in terms of loss. BANKNIFTY still hasn't taken much of a hit, indicating that there still may be more losses to come.

We saw divergence in the last high, indicating that the trend is about to reverse or a correction is about to appear. We saw a really nice break and retest of the 61.8 fibonacci level.

Trade Idea:
- Watch for continued bearish momentum. Look for any bear flags or corrections on lower timeframe
- Stops above the correction
- Targets: 34,000 (700pips), 32,000 (1100pips)

Goodluck and trade safe!

٨ فبراير ٢٠٢٢

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