Bank Nifty spot opened at 25776.60 ,made a low of 25749.10, it made a high of 25849 , before closing at 25779.65 .
Had mentioned that long positions can be taken above 25785 for the day and short positions can be taken below 25685. Bank Nifty initially triggered our long trade and missed our 2nd target by 6 points .
Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25685 can test 25630 - 25620 and on sustaining below it we can see a further test of 25570 - 25520 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25785 we can see a test of 25840 - 25855 initially and breaking and sustaining above it we can see a further move till 25900 - 25950 next . " , and today Bank Nifty made a highof 25849 within our initial resistance zone for the day .
Now in the coming session Bank Nifty breaking and sustaining below 25735 can test 25685 - 25675 and on sustaining below it we can see a further correction till 25630 - 25585 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25825 we can see a test of 25875 - 25885 initially and breaking and sustaining above it we can see a further move till 25930 - 25975 next .
Bank Nifty Spot Levels for the day are
Long above 25825 for 25855 – 25885 – 25975 , SL 25765
Short below 25735 for 25705 – 25675 – 25585 , SL 25795
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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.