Levels on chart. Long above 189.8 for 196 with SL at 186.5
Observe Stochastic levels with previous rebounds for confidence Keep a track on Bank Nifty levels - refer linked idea (1.0) for correlations
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Key BN resistance levels are 22100 ( initiate long) , 22350 (expect profit booking if BN doesn’t breach this, book intraday profits) & 22500 ( target reached but stay in for more upward movements).
Trade active
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Buy triggered
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If BN doesn’t breach 22500, will book profits
Trade closed: target reached
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Exited at 192
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Bank nifty has a gap to fill so there is a good chance bank nifty can retrace to 22,000 so exit positions now and I will look to re-enter when Bank nifty Is under 22k
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200 this week - may be even tomorrow ! Buy above 196 with SL at 194