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 unless 18740- tricky level is crossed in next few sessions
17828- Key Support
This is how we moved in 2016
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.
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.
Sorry- Typo error-- "2nd Jan2017" got a habit of writing 2016
Closing the Trade on Happy Note - Shall continue the new post. "17828- Super Level- did you use it"
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.
I see that you have put things as "Trade Active". So what was the entry point? Is that Short or Long trade? I assume that it's a long trade with SL of 17828 and target of 18400. Am i right? My analysis based on gann turn (that i expect on or before 4th Jan) is completely in line with your chart analysis, tricky zone 17900, target 18400, SL 17900. Else breaking 17900, will take banknifty to 17800-17600 levels. Can you let me know your comments based on your chart predictions?