Bank Nifty has clearly sustained above resistance level and move into the next grove towards 25000, However Bank Nifty has moved 1800 points during the last 7 positive days (except for one neutral day). With expiry on the cards tommorrow is a crucial day, and its better if Bank Nifty would take some correction towards 23200 to move towards new highs. Tommorrow BNF is expected to move higher but would face resistance at 23470-23500. Better to avoid fresh long positions. Wait and watch would be my stand ;)
Comment:
As EXPECTED in my post on 26.08.20, It has just taken 2 trading days to dive down by 1900 points to test 23300 level. I have exited all my banking positions on Friday itself and now I'm high on cash to enter it lower levels. Expecting little more correction (23350 > 23200) from whereon the journey towards new high begins.
