Boult2100

BankNifty - Entering Euphoria zone. Be careful!

NSE:BANKNIFTY   NIFTY BANK
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Tremendous rally in BankNifty from 17600 to 20450. Almost 3000 points in just 20 odd trading sessions. BankNifty is entering in the euphoria zone. Most banking stocks have reached their multi-month resistance levels. Traders should be extremely careful now. Big players will eat your profits that you made in this mega rally.

Tomorrow is RBI policy, no matter what happens, remember the range 20300 to 20575. Buy at lower end & sell at higher end, trade with strict stop loss. BankNifty might go around 20575 and then profit booking might happen.

Cheers!
Feb 07
Comment: Just bounced again from around 20300. Great day so far.
Feb 08
Comment: 20300 broken and sustained. Next support 20225.
Feb 08
Comment: WOW 55 points in a flash. LTP 20339.
Feb 08
Comment: Buy BankNkifty Fut around 20290-20305. SL 20250 tgt 20485.
Feb 08
Trade closed: stop reached
Feb 08
Comment: Stay away from Banknifty for next few days. It might have made a top at 20450. Now some larger correction is possible.
Feb 08
Comment: Told ya...! Yesterday, I mentioned that stay away from BankNifty. RBI has changed stance on rates. Bond yields already gave an indication what is coming fundamentally. This is how large players kill small players. Today is BankNifty options expiry and close to previous highs what a time to sell and book profit. violent move from day high. BankNifty story is over now. Will become choppy from now onwards.

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