BankNifty - Key Zone 21380-21400 Still a key zone.

We should never fight with the market & always take the least resistant path. In last update, we highlighted that 21390-21400 -is the key zone, which will decide whether BankNifty will go down or some steam is still left.

The upside move from 21400 levels looks very impulsive & taking out 21947 -there is no doubt that it will attempt 22000 zones easily.

Trading Strategy
Scenario-1- Bearish Scenario
Any move below 21615-21600 zone keeping 21947 intact on upside -we will join the bear camp -in that BN will attempt to break 21390-21400 zone.

Scenario-2- Bullish Scenario
Holding 21600-21615 zone downside as support zone if BN comes close & fails to take out that zone then we have bullish scenario on cards-largely pointing for new highs above 21947.


Previous Update -Beauty to realise the key level-21550

Previous Update- Series from 17605 to 19000+

Trade active:

11:41 Hrs 25th April2017

Last Price@21930

Below 21880 - Bank Nifty shall look to dip downside Intraday. So, we wait to sell below 21880 next

Trade active:

12:01 Hrs 25th April2017

Last price@21950

Moving Above day high@21980 - we have to think for more on upside.

Trade active:

13:14 Hrs 25th April2017

Last Price@21990- Exit Please

Taken Long above 21980 - Exit Please