BankNifty - Supply Zone 30300-30450 Careful At Tops!

Dec 24, 2020

Last Price- 30370/ 10:31 Hrs / 24th Dec2020

Index has supply zone in 30300-30450 so traders have to be careful. Next Buy should be only above 30450 or careful at the tops because if selling happens- Index can slip to 29800/29700 - 29450-29000 Downside Targets
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Short Term Targets Downside (Take Selling Only if Bank Nifty falls below 30375-30400 zone & starts moving down). No Sell to be taken if Bank Nifty crosses above 30400 - key level & 30450- critical level

29700-29800 (1st Target)

Positional Target
29000

Strict Stops Above 30450
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Last Idea - Bank Nifty Target Achieved 29000 to 30000+
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Dec 24, 2020

Trade closed: stop reached

Stops have been hit at 30450

Day High @ 30452

But I will still suggest to watch the zone carefully close to 30400's

Dec 24, 2020

Note

13:58 Hrs / 24th Dec2020

Last - 30506

Closing comment

Have suggested that No selling should be taken if BankNifty crosses or moves above 30400. Intraday traders they can look for 30250 as next important level for selling later if Index drops below 30250 later

Dec 24, 2020

Note

Bank Nifty going below 30400 has to be watched carefully

Dec 24, 2020

Note