PowerTrades

BANKNIFTY Play Near Term

NSE:BANKNIFTY   NIFTY BANK
Feb 06:#Banknifty #BNF Likely for a gap down opening. key levels to watch out is 25450 levels on the downside. and a crack of that can lead to a test of 25050 levels.
Significant levels of resistance now @ 26250 levels.

Note: Refer to my earlier post late jan - " The steeper the upside merrier will be the downside.. once the channel broke. there was no stopping..
speed has been still surprising.. thanks to the rising bond yields and the spectacular valuations.
Comment: Trading below the 25450 zones, that will be the immediate short term resistance for any upside play. downside levels now @ 25050 ( which was tested in the morning opening )? can we potentially re visit that.. I would say yes if we continue to hold below 25450 zones.
below that a play for 24890 , 24580 will be open ( these are future levels )
GOOD PREDICTION
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