BANKNIFTY: Fib Retracement Key Levels

May 21, 2021

Banknifty sitting on 50% Fib Retracement. Once it crosses the level, chances to touch 61% level in a few days, if momentum persists. Depending upon risk appetite can be configured to a strategy for next weekly expiry or the one after that.

May 21, 2021

Note

UPDATE: Target 61.8% level sits at 35000 levels, SL: can be set at 33500. Please note that this is not a strategy. This is an observation/analysis. The reference to expiry is for my personal preference of working with options to capture the movement. Your strategy may differ.
Kindly consider this as analysis and not advice.