BANKNIFTY - GOOD TIME TO CREATE LONGS ?

Apr 16Symbol - BANKNIFTY

BANKNIFTY gave a breakout of ATH & touched 49000 level & then exhibited some profit booking due to global news flow. It is currently trading at 47335 which is a good support area.

I think BN will take support at these levels & will show a reversal from here.

Hence I am creating long positions in BN futures at CMP 47335.

I will add more position between 47080 - 47200, if comes.

My SL would be below 47000 & Targets I'm looking for are 47900 - 48470 - ATH.

Apr 16

Trade active

CMP 47600
235 points in profit.

The move happened in last 20 minutes so closing may come far below.

Apr 18

Trade active

Consolidating at 47500 for further upmove.
It may breakout in second half.

Apr 18

Trade active

BANKNIFTY CMP 47050

Adding more position here.
Average buy price now is 47192
Holding with SL 46880

Apr 19

Trade closed: stop reached

Opened gap down because of Israel-Iran conflict.
SL hit. Trade closed.

Apr 19

Comment

CMP - 47585

SL triggered in morning because of war news volatility & then BN reversed strongly from support levels.

Apr 22

Comment

CMP 47980

Target 1 - 47900 hit.

Apr 25

Comment

CMP 48600
Target 2 - 48470 reached. We will see third target, which is new ATH very soon as well.

Although my long position is not active but view was right and analysis was on point. :)

Apr 26

Trade closed: target reached

Apr 29

Trade closed: target reached

CMP 49380

All targets hit.