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BankNifty: Are pullbacks Bad Vol. 2

NSE:BANKNIFTY   NIFTY BANK
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In my earlier post I demonstrated a scenario on 'how to play pullbacks'.   pts . either up or down side) and shows weakness then it will trigger a sell. There are very good chances that subsequent support levels might be tested. However, at 23350 levels shorts could be covered either partially or fully. Longs could be tried if index shows some strength at this point to hunt for 23460 initially.
On the other hand if Index shows strength (either after gap up or flat opening) it would have to move strongly above 23570 and hold before touching the moon.

Never risk more than 1-2% of your capital in a single trade. Try pullback instead of breakouts.

Thanks.

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