Bank Nifty spot opened at 25732.40 ,made a low of 25557.60 , it made a high of 25775.15, before closing at 25749.05 .
Had mentioned that long positions can be taken above 25705 for the day and short positions can be taken below 25620 . Bank Nifty triggered our short trade and completed 2 targets before taking our TSL . Bank Nifty then triggered our long trade and completed 2 targets on the long side . Bank Nifty also now needs to sustain and close above 25760 for further upmove in the coming sessions.
Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25620 can test 25575 - 25565 and on sustaining below it we can see a further correction till 25530 - 25485 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25705 we can see a test of 25745 - 25760 initially and breaking and sustaining above it we can see a further move till 25795 - 25835 next . " , and Bank Nifty made a low of 25557.60 just below our initial support zone and made a high of 25775.15 just above our initial resistance zone .
Now in the coming session Bank Nifty breaking and sustaining below 25720 can test 25695 - 25685 and on sustaining below it we can see a further correction till 25665 - 25635 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25775 we can see a test of 25805 - 25810 initially and breaking and sustaining above it we can see a further move till 25835 - 25865 next .
Bank Nifty Spot Levels for the day are
Long above 25775 for 25795 – 25810 – 25865 , SL 25740
Short below 25720 for 25705 – 25685 – 25635 , SL 25757
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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.