Bank Nifty spot opened at 25116.25 , it made a low of 24942 , it made a high of 25192.95 before closing at 25107.40
Had mentioned that long positions can be taken above 25475 for the day and short positions can be taken below 25295. Bank Nifty triggered our short trade and completed all targets for the day giving 280+ points . Had mentioned in the previous posts that once Bank Nifty sustains / closes above 24905 we can expect a pullback and we saw Bank Nifty make a high of 25723.55 holding the same. As mentioned in the previous post " Now in this week Bank Nifty has to sustain / close above 25440 to test 25755 - 25815 initially and above it we can see a move till 26015 - 26325 . Similarly Bank Nifty has to sustain / close below 25165 to test 24850 - 24790 initially and below it we can see a move till 24590 - 24370 .Those who are looking to enter on dips should keep a cbsl of 25080 " , and today we have just closed very close to the cbsl .
Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining above 25475 can test 25565 - 25590 and on sustaining above it we can see a further upmove till 25670 - 25760 next. Similarly in the coming session Bank Nifty breaking and sustaining below 25295 we can see a test of 25200 - 25175 initially and breaking and sustaining below it we can see a further correction till 25095 - 25005 next . " , and Bank Nifty made a low of 24942 below our next support zone .
As per the calendar month end of February today , Now for the month of March , Bank Nifty longs will get confirmed with a consecutive close above 25620 for a initial target of 26155 - 26295 and sustaining / closing above it we can see a further test of 26755 - 27265 . Similarly , shorts will get confirmed with a consecutive close below 24595 for a initial target of 24055 - 23925 and sustaining / closing below it we can see a further test of 23455 - 22945 .
Now in the coming session Bank Nifty breaking and sustaining above 25200 can test 25300 - 25325 and on sustaining above it we can see a further upmove till 25410 - 25500 next. Similarly in the coming session Bank Nifty breaking and sustaining below 25015 we can see a test of 24915 - 24890 initially and breaking and sustaining below it we can see a further correction till 24805 - 24715 next .
Bank Nifty Spot Levels for the day are
Long above 25200 for 25260 – 25325 – 25500 , SL 25080
Short below 25015 for 24955 – 24890 – 24715 , SL 25135
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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.