Bank Nifty: Support & resistance levels

Bank Nifty
Closing Price 25124.85

We have RBi Policy tomorrow...

As per Andrew's Pitchfork

Strong resistance at 25480

Crucial zone 25180 - 25080

Support at 24820 levels

We have identified important levels and we keep ourselves ready.

Will update this thread further during market hours...

Take care & safe trading...!!!

Dec 05
Comment: Bank Nifty opened at 25066 and has made a high of 25077 so far...

CMP 25051

World markets are down big time Hangseng, Taiwan, even Dax futures are down big time... And so expecting a big fall in our markets too becomes a little too easy and predictable...

And when every one is expecting some thing, things become more vulnerable...

It may fall but just for the above psychological reason, we are giving it a pass at current levels and will be observers from sideline....

Take care & safe trading...!!!
Dec 06
Comment: We have taken a position in ICICI Bank though...

Take care & safe trading....!!!
Dec 06
Comment: Things getting uglier in World market

As per last update Dax (Germany index) futures was down 80 points. Now its 150 points

Even Hangseng is down from 400 to 600 points++

We could be in for whack too..

Trade safe...!!!
Dec 06
Trade active: One may consider selling Bank Nifty 25100 7th Dec-2017 Expiry Call option around 85
Lot size 40

Max profit potential Rs 3400/- per lot

Take care & safe trading...!!!
Dec 06
Comment: Bank Nifty 25100 7th Dec 2017 Call update
CMP 63

Booking partial profits and keeping SL to cost for balance

Take care & happy trading...!!!
Dec 06
Trade closed manually: We were looking for a cautious trade for the day and hence chose to sell Out of Money Call option for bank Nifty

& Strategy the strategy paid off

Reaction to Policy

Bank Nifty 25100 7th Dec 2017 Call Option update

Made a low of 38...
CMP 44

We book profits and close the trade...

Hope you guys enjoyed...!!!
Dec 06
Trade closed: target reached: Bank Nifty makes a low of 24813

Also BN 25100 Call option has gone down to Rs 10/-

Over and out...

Dec 12
Comment: Bank Nifty falls from Resistance zone around 25480


Now that event is over. What is the trade
@sharuvman, Trading after the news is leftover's game... Do not try to chase trade afterwards...

with Technical Analysis we try to initiate trade based on levels and during events try to capture reaction to news, and not reacting after the news...

If you see BN respected the crucial level mentioned... It made a high of 25077 just 3 points below 25080

It made a low of 24871 so far just 50 points shy from 24820 level identified through Andrew's Pitchfork methodolgy

we have been updating throughout the day and had taken a safer route to trade shorting BN 25100 Call Option at 85

& have closed our position after the Policy news was out completely around 44....

Please go through the time line update in the post itself...


sharuvman indiamarketoutlook
Thanks for details. I missed the live updates. Your trades were excellent. Both ICICI and BankNifty. Look forward to next opportunity. Please share. Thanks
Nice analysis. Looking forward to update after RBI statement
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