Bank Nifty spot opened at 25640.90 ,made a low of 25619.60 , it made a high of 25757.95 , before closing at 25716.20 .
Had mentioned that long positions can be taken above 25675 for the day and short positions can be taken below 25510 . Bank Nifty triggered our long trade and completed just 1 long target for the day . Bank Nifty has today given a close above 25655 and also confirmed our weekly long trade and sustaining above 25760 we can see the resistance at 25930 - 26085 being tested . As mentioned earlier " Bank Nifty now has resistance in the coming sessions near 25455 - 25535 zone and for a stronger upmove we need a consecutive close above 25655 as mentioned in the weekly post too. Those who are holding longs should book once near this zone or look to hold and enter fresh longs only on a consecutive close above it . Those who are intending to go short in the coming sessions near the zone of 25535 - 25655 should keep a cbsl of 25655 or look to exit on sustaining above 25755 . " , and Bank Nifty today gave a close above 25655 and we need a consecutive close above it tomorrow or we need to see it sustain above 25760 for a test of its next resistance near 25930 - 26085 and once we get a close above it we can see 26325 - 26525 too .
Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25510 can test 25430 - 25410 and on sustaining below it we can see a further correction till 25335 - 25255 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25675 we can see a test of 25760 - 25780 initially and breaking and sustaining above it we can see a further move till 25855 - 25935 next . " , and Bank Nifty made a high of 25757.95 just below our initial resistance zone .
Now in the coming session Bank Nifty breaking and sustaining below 25650 can test 25580 - 25560 and on sustaining below it we can see a further correction till 25500 - 25430 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25785 we can see a test of 25855 - 25875 initially and breaking and sustaining above it we can see a further move till 25935 - 26000 next .
Bank Nifty Spot Levels for the day are
Long above 25785 for 25825 – 25875 – 26000 , SL 25695
Short below 25650 for 25610 – 25560 – 25430 , SL 25735
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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.