PowerTrades
Long

BANKNIFTY Trade Set up Idea Updates

NSE:BANKNIFTY   NIFTY BANK
23-Feb-2018:
We discussed that 24870 will act as the immediate trend decideer. markets now seem to have formed some sort of base at 24840-870 zones. so 24870-24880 can remain
a choppy zone where both buyers and sellers remain active. Break down potential is only when we test below 24750. On the upside a break above 24970 keeps an
open possibillity to test the volume zones of 24050-70. swing hurdles continue to remain at 25250, where an pull back will be tested.
trading scenario 1: look for dips near 24840 to go long, scenario 2 and extension, in case momemntum is weak look to trade pullbacks once 24970 is tested. alternativelYesterdaylong above
that range to test 25050-70 zones.
Trade closed: target reached: relentless move since we established the base... time to close the trades here and look for a reverse opportunity.. risk reward becoming favorable for shorts
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