Bank Nifty Update (08 September 2021)

Banknifty Update (08 September 2021)
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Will Banknifty reverse?

Banknifty is in a no trading zone and is trading in a narrow range.

The index has shown Volatility & roller coaster moves in the previous trading session.

Banknifty has formed two Harmonic XABCD & Half Bat Pattern: Here's the trade setup for today:

Range High: 36,700
Range Low: 36,390

Aggressive traders can open short positions from 36,790; Risk to Reward will be highly favorable.

36,700 will act as an Intraday resistance. Buy if the level is broken.

36,390 will act as Intraday support.
Sell below only 36,390 if price closes below, for the targets of 36,300 followed by 36,150.

36,140 is important to support more pain will be seen if the price closes below the level.

WAIT FOR BREAKOUT or BREAKDOWN of the Range

Trade Accordingly!

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