Bank Nifty spot opened at 24629.50 , made a low of 24591.80 , it made a high of 24879.70 , before closing at 24827.45 .
Had mentioned in the previous post " Now in the coming session Bank Nifty needs to break and sustain below 24615 to test 24555 - 24505 levels initially and below it we can see a test of 24435 - 24365 . Those who are holding shorts should now move up their cbsl to 24865 from 25340 spot mentioned previously " , we saw Bank Nifty break below 24615 but it could not sustain and bounced back . Bank Nifty has still not closed above 24865 which is the trailing cbsl now for shorts and if does not sustain above it in the coming session can see some pressure build up again. Sustaining above it we can see a move again till 25150+ . Those who are looking to enter fresh shorts near the highs should keep a strict cbsl of 25340 .
Bank Nifty Spot Levels for the day are
Long above 24905 for 24950 – 25000 – 25145 , SL 24805
Short below 24750 for 24705 – 24655 – 24510 , SL 24850
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