Bank Nifty expressed good strength throughout the day and closed in the positive zone.
Even the "EMA on RSI Indicator" did not give any SELL signal, it crossed an important Resistance / Supply zone of 29325 to 29400, and traded above that for some time and even closed a tad over 29400.
Long positions can be retained as long as 29230 holds, target on the upside are 29670, 29870, 29980 and higher.
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This post is not an advice to speculate using leveraged financial products, one must understand financial implications involved, consult some financial consultant before taking any positions.
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Please consider hitting the LIKE button below the chart, if you find this post / idea worthy and informative. You may also FOLLOW me over this forum for periodic updates on Nifty and Bank Nifty.
Even the "EMA on RSI Indicator" did not give any SELL signal, it crossed an important Resistance / Supply zone of 29325 to 29400, and traded above that for some time and even closed a tad over 29400.
Long positions can be retained as long as 29230 holds, target on the upside are 29670, 29870, 29980 and higher.
-----------------------------------------------------------------------------------------------------------------------------------------------------
This post is not an advice to speculate using leveraged financial products, one must understand financial implications involved, consult some financial consultant before taking any positions.
----------------------------------------------------------------------------------------------------------------------------------------------------
Please consider hitting the LIKE button below the chart, if you find this post / idea worthy and informative. You may also FOLLOW me over this forum for periodic updates on Nifty and Bank Nifty.