Bank Nifty spot opened at 25145.50 ,made a low of 25145.50 , it made a high of 25367.70, before closing at 25321.15.
Had mentioned that long positions can be taken above 25130 for the day and short positions can be taken below 24985. Bank Nifty triggered our long trade and completed all our targets for the day giving nearly 200 points . Had mentioned in the previous post " Those who are holding shorts from the previous week should now move up their trailing cbsl to 25150 from 25350 mentioned earlier as we got a close below 25000 now . " , and Bank Nifty took the cbsl . Bank Nifty has resistance in the coming sessions near 25535 - 25655 zone and for a further 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 and look to hold or 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 .
Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 24985 can test 24910 - 24890 and on sustaining below it we can see a further correction till 24825 - 24755 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25130 we can see a test of 25205 - 25225 initially and breaking and sustaining above it we can see a further move till 25290 - 25360 next . " , and today Bank Nifty made a high of 25367.70 just above our next resistance zone and also closed within it .
Now in the coming session Bank Nifty breaking and sustaining below 25240 can test 25155 - 25135 and on sustaining below it we can see a further correction till 25060 - 24980 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25405 we can see a test of 25490 - 25510 initially and breaking and sustaining above it we can see a further move till 25585 - 25665 next .
Bank Nifty Spot Levels for the day are
Long above 25405 for 25455 – 25510 – 25665 , SL 25295
Short below 25240 for 25190 – 25135 – 24980 , SL 25350
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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.