Bank Nifty spot closed at 28098.75 as on 13/09/19.
This is bank nifty daily chart. CMP : 28098.75 Immediate resistence is 28282.62 then after 28483.32 and 28603.27, all the above blue lines are tough barriers. Watch and count the blue pins under each candle and watch the price action. From the first resistence of 28282 ish levels the index has cracked down nearly 10 times. Above that there are 2 other major resistence from where the bank nifty index has cracked 2 times each.
So, keeping in mind the booster package given by FM if banknifty gaps up dont buy blindly, do fix in your mind the 10 times fall level is near. Also some some negative news of attack on ARamco are there so if RIL cracks down it will not allow Nifty to go up. This is just a condition which cannot be neglected. So i hope you all got my point and dont trade without STOPS at this level. Also see how the bank nifty bounced after touching 20EMA NOTE: The broken blue lines are resistence and the broken green lines are strong supports.
Trade active
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As mentioned we have come down 10 times now this is the 11th time. See what a major fall this was. Now the last green broken line remains intact.
Trade closed: target reached
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All resistence broken...Now 28603 will act as a super strong support!!!