AbhishekHSinghCMT

Bank Nifty- Super 17828 Support-Did you use it?

NSE:BANKNIFTY   NIFTY BANK
13
What a start to Bank Nifty in 2017- Key Level-17828 acted twice as a support- on 2nd Jan2017- made day's low@17844 & jumped 200+ points & today even closer from 17828- day's low@17830.

Currently trading@18050- Isn't that amazing -how key level work like a magic wand at times is evident by Bank Nifty bouncing above key level-17828- "did you use it"
Trade active: 10:26 Hrs 3rd Jan2017

Last Price@18057

Any move below 17800-17828 -you know what will happen- do I need to even tell you?
Trade active: 07:20 Hrs 4th Jan2016

Last Price@18035

A break of 17800 will show us the next leg down with target 17600 first or any pullback to 17900-17930 zone & pushing above 18100 is open for target zone 18300-18350+

So, let us wait & watch for market action.


Trade active: 12:25 Hrs 4th Jan2016

Last price@17961

Day's Low@17936

As expected pullback in the zone 17900-17930 is almost done or close by - Any poke above 18100 will boom for Bank Nifty.

Trade active: 11:53 Hrs 5th Jan2016

Last Price@18075

In yesterday's session, it went to 17868 -our key level @17828 & overnight also had dollar rupee capsule, which is providing necessary support & helping BN to regain its lost power.

Heading Close to 18100-18110 zone if crosses- most likely it travels to 18300-18350+ on lower expectation. Crossing 18350--Next will be 18420-18450.

Trade active: 12:25 Hrs 5th Jan2017

Last price@18082

Its finding tough to cross 18100-18110 - Likely book partial profits & enter again only above 18110 -if sustains
Trade active: 18:37 Hrs 8th Jan2016

Last Price@18264

Crosses 18110 & sustained to touch highs at 18325 in last trading session as updated below in the comment section.

Now going above 18325 shall travel upside again for 18450-18475 -once need to book & wait at the sidelines.

Trade active: 08:35 Hrs 10th Jan2017

Last price@18285

Once Nifty sustains above 8300 -Likely shall help Bank Nifty to push in the zone 18450-18470 where next resistance could be seen.
Trade active: 10:37 Hrs 11th Jan2017

Last price@18625

Crossed 18580-18600 zone -next we are open for 18710-18740 zone

Trade active: 10:45 Hrs 11th Jan2017

Last Price@18625

hello price has just rallied upside do not jump in trade immediately look for a pull back in the zone 18500-18535 -if holds then enter for buying.
Trade active: 11:27 Hrs 11th Jan2017

Last price@18700

Sorry guys -we did not get the pullback to buy as we are interested only in buying.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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