SO HAPPY TO SEE THAT A COMPLETE DAY'S CANDLES WITH HOLDING THE BOTTOM OF MY CHANNEL MENTIONED IN YESTERDAYS POST.
Wait n Watch for the levels mentioned in 01.09.2020 post
As mentioned yesterday, though BNF opened higher, due to profit booking, it came down to 23473.
Then as mentioned, with AGR verdict, it has taken a Knee jerk reaction and moved up to 24115.
SC is yet to offer its verdict on extension of moratorium which would trigger the movement on either sides. Hence, Its still a wait and watch zone.
Only if BNF sustains...
As EXPECTED in my post on 26.08.20, It has just taken 2 trading days to dive down by 1900 points from days high to test 23300 level. I have exited all my banking positions on Friday itself and now I'm high on cash to enter at lower levels. Expecting little more correction (23550 > 23385 > 23200) from whereon the journey towards new high begins. "Any positive...
Bank Nifty has clearly sustained above resistance level and move into the next grove towards 25000, However Bank Nifty has moved 1800 points during the last 7 positive days (except for one neutral day). With expiry on the cards tommorrow is a crucial day, and its better if Bank Nifty would take some correction towards 23200 to move towards new highs. Tommorrow BNF...
Yesterday, I have projected resistance level for Bank Nifty and it has pretty clearly respected the level for 4-5 hours today. Finally it has closed slightly above the resistance level. Sustaining this level would open doors for 25000 levels. However, being expiry week anything can happen ;) Lets wait for the suspense to unveil.
Bank Nifty has taken a bullish move today. BNF is moving towards forming a TRIPLE TOP near 23100, which will act as a flip level. Moving towards the August Expiry, lets wait for the unexpected ;)
