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"
Any move below 17800-17828 -you know what will happen- do I need to even tell you?
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.
As expected pullback in the zone 17900-17930 is almost done or close by - Any poke above 18100 will boom for Bank Nifty.
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.
Its finding tough to cross 18100-18110 - Likely book partial profits & enter again only above 18110 -if sustains
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.
Once Nifty sustains above 8300 -Likely shall help Bank Nifty to push in the zone 18450-18470 where next resistance could be seen.
Crossed 18580-18600 zone -next we are open for 18710-18740 zone
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.
Sorry guys -we did not get the pullback to buy as we are interested only in buying.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ