BankNifty - Consolidation ahead!
Actualizado
BankNifty has run up from the lows of 17600 to 19275. Now consolidation is highly likely in the band of 18900-19300. Before the next move. Play carefully. Weekly closing above 19300-350 will trigger further rally but till then choppy and rangebound.
Nota
Exactly as expected, This is what is called rangebound and choppy markets. short term traders both Buyers & sellers vl be frustrated becoz it is not easy to sit idle. Trade small near the supports & resistances. Trade carefully.Nota
BankNifty morning low is 18922, touched the lower end of the new range as mentioned and bounced back sharply 150 points in 3-4 minutes. Great Morning.Nota
Buy BankNifty fut at 19025-30 with SL 18999Nota
Whipsaw! SL hit by a whisker, didn't sustain there on board again there abouts.Nota
Book small profits near 19040-50 and stand aside. Probably today is a no trade day. Extremely choppy.Nota
Touched the low 18915, range low again and bounced.Nota
Low 18867. Don't short. This is consolidation on Monday it may go up.Nota
BankNifty is bit volatile but in consolidation mode. It has multiple supports between 18600-18900 even if it broke 18900 but it was not a short rather wait for a reversal and buy. It zoomed from 18722 to 18850 in a few mins. Good MorningNota
Intraday traders should book profits at 18900.Nota
Buy BN at 18790-800 SL 18740 tgt 18895-900Nota
Booked intraday positions and carried fwd the positional longs. Great day today.
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