Bank Nifty- Beauty to realise key level at 21550

Shapes keep changing beacause of our emotions -it a triangle -no-no-it is a rectangle well it looks to me now a circle- isn't that funny that is how most of our traders do their trading (including me- few years back) then later I realised the importance of key levels as markets aren't running anywhere- it is we who keep running because of fear, greed & unable to bear losses in the market.

Yes smart traders, they realise these key levels soon & take advantage of an upcoming move like we did & cut our short positions exactly in the zone 21600- suggested to sell below 21600 in previous updates.

Trading Strategy
Going above 21750 & holding above 21750 we will leave some pattern behind us for higher targets in the range 21900-22000. Guys who are long in BankNifty from previous update -should hold with stops below 21550.

Previous Update

Double Top to cap & Double bottom to sell below 21395

Trade active:

09:24 Hrs 18th April2017

Last Price -21755

We book our targets here at 21760-21770 & fresh buying above 21800 & above for 21950-22050 Target zone next.

Trade active:

09:30 Hrs 18th April2017

Last Price@21755

Profit Booking Chart Shown below

Trade active:

09:37 Hrs 18th April2017

Last Price@21830

Boom

We crossed 21800

Trade active:

10:01 Hrs 18th April2017

Last Price@21875

Keep booking partial profits

Picture

Trade closed: target reached:

14:32 Hrs 18th April2017

Last Price@21790

300 points were booked in this long call. Done & Out.