Parjun

Bank Nifty Contrarian Long

Long
NSE:BANKNIFTY   NIFTY BANK
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1
Bank Nifty seems to be holding its ground very well even with all the selling pressure. Today we saw a breakdown in the negative dmi which indicates it could be the right time to position ourselves to go long with a stop loss at 17800 for a target of 18300.
Trade active: BANK NIFTY has nicely followed the trade idea. For all those that have entered this trade now please trail your stops by 100 points. For every 100 point upmove take the sl from 17800 up by 100 points each.
Comment: Move sl to cost now and enjoy profits here after :)
Comment: We have caught almost 400 points of bank nifty now with a tight sl of just 90 points. High risk traders apart the rest can exit since we have reached our targets.

High risk traders hold with sl of 18110 in futures for further target 18500.
Comment: almost 500 points of the upmove caught. Now trail sl to 18280 in futures and hold.
Comment: 900 Bank Nifty points we have caught in this upmove.Now trail Sl to 18800 in Bn futures. Which ensures we end up catching atleast 900 points.

Comments

Great call on Bank Nifty, i am still holding my long position, what is the next target?
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