Bank Nifty spot opened at 25829.65 ,made a high of 25877.75 , it made a low of 25746.80 , before closing at 25795.70 .
Had mentioned that long positions can be taken above 25890 for the day and short positions can be taken below 25805. Bank Nifty triggered our short trade and completed 2 targets for the day . Had mentioned in the weekly post for Bank Nifty that those who are holding longs should move up their trailing cbsl to 25655 which has held today so far this week . For the upmove to continue we need Bank Nifty to sustain / close above 25915 .
Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25805 can test 25760 - 25750 and on sustaining below it we can see a further correction till 25710 - 25670 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25890 we can see a test of 25935 - 25945 initially and breaking and sustaining above it we can see a further move till 25985 - 26025 next . " , and today Bank Nifty made a low of 25746.80 just below our initial support zone for the day .
Now in the coming session Bank Nifty breaking and sustaining below 25755 can test 25720 - 25710 and on sustaining below it we can see a further correction till 25675 - 25635 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25835 we can see a test of 25875 - 25885 initially and breaking and sustaining above it we can see a further move till 25920 - 25955 next .
Bank Nifty Spot Levels for the day are
Long above 25835 for 25855 – 25885 – 25955 , SL 25785
Short below 25755 for 25735 – 25710 – 25635 , SL 25810
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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.