Bank Nifty spot opened at 25250.90 ,made a low of 25237.20 , it made a high of 25598.55 , before closing at 25498.95.
Had mentioned that long positions can be taken above 25370 for the day and short positions can be taken below 25210 . Bank Nifty today triggered our long trade and completed 2 targets giving 100 points . Bank Nifty had also triggered our weekly short trade in the previous session and had completed 3 weekly short targets . 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 .
Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25210 can test 25130 - 25110 and on sustaining below it we can see a further test of 25035 - 24960 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25370 we can see a test of 25455 - 25475 initially and breaking and sustaining above it we can see a further move till 25545 - 25625 next . " , and today Bank Nifty made a high of 25598.55 within our next resistance zone .
Now in the coming session Bank Nifty breaking and sustaining below 25420 can test 25335 - 25310 and on sustaining below it we can see a further correction till 25240 - 25160 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25580 we can see a test of 25665 - 25685 initially and breaking and sustaining above it we can see a further move till 25760 - 25840 next .
Bank Nifty Spot Levels for the day are
Long above 25580 for 25630 – 25685 – 25840 , SL 25475
Short below 25420 for 25370 – 25310 – 25160 , SL 25525
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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.