Bank Nifty - Ready for a small bounce?
Bank Nifty has been very volatile for last a few days. We can see Bank Nifty receding downwards but also getting strong rejections from deeper low levels.
Bank Nifty has not reached to its next strong support level of 45660 but rejections (long wicks below close) are seen every-time price goes towards it.
Bank Nifty at present is giving impression of taking the support from 45660 level and giving a bounce to 46900-4700 levels.
So catch the bounce from lower level for 1000-1500 points gain.
Remember: SLs are essentials.
Disclaimer: I'm not a registered analyst. I'm just sharing my opinion on the platform for others to benefit in learning from my market understanding. Please do your due diligence before making a trade.
Bank Nifty has not reached to its next strong support level of 45660 but rejections (long wicks below close) are seen every-time price goes towards it.
Bank Nifty at present is giving impression of taking the support from 45660 level and giving a bounce to 46900-4700 levels.
So catch the bounce from lower level for 1000-1500 points gain.
Remember: SLs are essentials.
Disclaimer: I'm not a registered analyst. I'm just sharing my opinion on the platform for others to benefit in learning from my market understanding. Please do your due diligence before making a trade.
Trade closed: target reached:
That was quick target met. I expected it to take 2-3 days to hit the target but Fed news from US did it sooner.