ASCENDING CHANNEL WITH A STEEP TRENDLINE
-index has the potential of testing 40000
-i even more optimistic on banknifty my target is in the range of 42500-43000
-expect extension on the upside
-once the previous all-time high is taken out one can expect 38500-39k in short-term
-base building is on
-expect ruppee/inr to appreciate in the near future
NOTE THIS TRADE IS BASED ON POSITIONAL VIEW
TRADE ACCORDING TO RISK APPETITE
BANKNIFTY FUTURES (SEPT/OCT)
BUY@36700-36800
STOP@34800
TARGET-1@38200
TARGET-2@38920
TARGET-3@39500
PLEASE NOTE:-
I AM EXPECTING HIGHER LEVELS
BUT WILL RAISE MY TRAILING STOPLOSS
AS THE MOVE PROGRESSES
I HAVE SEEN IN THE PAST THIS KIND OF PATTERN BREAKOUT ARE HUGE
IF ANALYSIS IS RIGHT THEN EXPECT 40K TILL DIWALI