Bank Nifty spot opened at 25352.55 ,made a high of 25404.80 , it made a low of 25223.10 , before closing at 25284.60.
Had mentioned that long positions can be taken above 25445 for the day and short positions can be taken below 25275. Bank Nifty today triggered our short trade and completed just 1 target . Bank Nifty today confirmed our weekly short trade and nearly completed 2 short targets for the week . Had mentioned in the previous post that " Bank Nifty has stiff resistance near 25680 - 25710 and those who are looking to go short should keep a strict cbsl of 25710 . Those who are long should keep a trailing cbsl of 25285 " , and today Bank Nifty has closed at 25284.60 .
Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25275 can test 25185 - 25165 and on sustaining below it we can see a further test of 25090 - 25005 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25445 we can see a test of 25530 - 25550 initially and breaking and sustaining above it we can see a further move till 25630 - 25710 next . " , and today Bank Nifty made a high of 25223.10 after sustaining below 25275 and also closed above it indicating some support .
Now in the coming session Bank Nifty breaking and sustaining below 25225 can test 25160 - 25145 and on sustaining below it we can see a further correction till 25090 - 25035 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25345 we can see a test of 25410 - 25425 initially and breaking and sustaining above it we can see a further move till 25475 - 25535 next .
Bank Nifty Spot Levels for the day are
Long above 25345 for 25380 – 25425 – 25535 , SL 25265
Short below 25225 for 25190 – 25145 – 25035 , SL 25305
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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.