Bank Nifty spot opened at 25452.00 , it made a low of 25381.20 , it made a high of 25722.15 before closing at 25687.90
Had mentioned that long positions can be taken above 25385 for the day and short positions can be taken below 25220 . Bank Nifty triggered our long trade and completed and all long targets for the day giving 250+ 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 25722.15 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 ." , and in the coming session Bank Nifty can test its initial resistance zone of 25755 - 25815 and closing above it we can see the next targets . Those who are looking to enter on dips should keep a cbsl of 25080 .
Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining above 25385 can test 25475 - 25495 and on sustaining above it we can see a further upmove till 25570 - 25655 next. Similarly in the coming session Bank Nifty breaking and sustaining below 25220 we can see a test of 25130 - 25110 initially and breaking and sustaining below it we can see a further correction till 25035 - 24950 next . " , and Bank Nifty made a high of 25722.15 above our next resistance zone and also closed above it .
For the month of March , longs will get confirmed with a consecutive close above 25395 for a initial target of 25860 - 25975 and sustaining / closing above it we can see a further test of 26375 - 26815 . Similarly , shorts will get confirmed with a consecutive close below 24515 for a initial target of 24050 - 23935 and sustaining / closing below it we can see a further test of 23535 - 23095 .
Now in the coming session Bank Nifty breaking and sustaining above 25780 can test 25880 - 25905 and on sustaining above it we can see a further upmove till 25990 - 26085 next. Similarly in the coming session Bank Nifty breaking and sustaining below 25595 we can see a test of 25495 - 25470 initially and breaking and sustaining below it we can see a further correction till 25385 - 25295 next .
Bank Nifty Spot Levels for the day are
Long above 25780 for 25840 – 25905 – 26085 , SL 25660
Short below 25595 for 25535 – 25470 – 25290 , SL 25715
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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.