BankNifty - Careful At Tops of 43000 (Parallel Channel)

Jan 24, 2023

Index has touched the channel top & close to psychological level of 43000 which is very important from trading perspective.

Any bullish scenario next is strictly if Index trades above 43K or holds above parallel channel else going below 42700 - it will trigger downside

Trigger level
42700

Bias can be negative till the the time Index holds below channel. Thank You

Jan 24, 2023

Note

2:15 pm / 24th Jan 2023

Last @ 42673

It has triggered below 42700 but bounce upside cannot be denied so careful in selling here or as a trader if index moves again close to 43000 levels & holds below channel then plan to sell later or avoid taking sell.

Thanks

Jan 24, 2023

Trade closed manually

2:36 pm / 24th Jan 2023

Last @ 42697

Avoid Selling below 42700 as suggested 15 mins back.