Bank Nifty 2016 Diary- Tricky 17828- 18443-18740

Going below 17828- Bulls have to take care as we should not fight the markets & move along with markets which shall be the path of least resistance.
Against 17828 support- BN can attempt for 18440-18500 & Should take long calls if 18740 is crossed in coming sessions ahead.

Overall The structure is bearish unless 18740- tricky level is crossed in next few sessions

17828- Key Support

This is how we moved in 2016

Simple Support Area 19730-19750

Magical Channel- Looking left & Trading Right

A roller coaster ride of 2000 points & Next IT Raids

Bang on for start- Surprise U-Turn- What Next?

Let us start in the bear camp

Hitting the bulls eye for 600+ points fall to 17962

Moves down only below 17700 & Happy Jan2017 Series.

Trade active:

18:27 Hrs 2 Jan2016

Last Price@17969

Bounce above & very close to 17828- made day's low@17844 -jumped upside Intraday 200 pints to 18040-18050 - finally to settle down at 17969.

Comment:

18:27 Hrs 2nd Jan2017

Sorry- Typo error-- "2nd Jan2017" got a habit of writing 2016

Trade closed: target reached:

11:21 Hrs 11th Jan2017

Last price@18675

Closing the Trade on Happy Note - Shall continue the new post. "17828- Super Level- did you use it"

Experience
Key Level - 17828 - when I see that level -I feel so nice & excited as we got attempts to buy in BN respecting that level -one was very close 17830 - next opportunity it was 17868 (During 2nd low -it tested the patience for all of us) but I was adamant unless it 17828 breaks -I am not leaving the trade- which I did.