PowerTrades

BANKNIFTY- Can it manage to break through.

NSE:BANKNIFTY   NIFTY BANK
BANKNFITY: the weekly resistance is now placed at 25550, any move near that levels , will attract sellers. Last week also saw active sellers at 25600 zones.
we have tested the zone of 25250 and until we trade below it, the possibility to test 25000 is open, below that markets can slide quickly to test the 24850,24650 zones.
on the contrary a move and susteance above 25250 will keep levels of 25550 as open targets.
Comment: Excellent trade set up today, gave opportunity to short at 25230-250 zones in the morning spike and low in fact made exactly below 25850. before marking a decent pullback.
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