AbhishekHSinghCMT

Bank Nifty 2016 Diary- Tricky 17828- 18443-18740

AbhishekHSinghCMT Updated   
NSE:BANKNIFTY   NIFTY BANK
6
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.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle
https://twitter.com/TalksWave

Telegram Handle
(Deleted)
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.