Bank Nifty Trading Strategy

RBI policy came but Bank Nifty still remained in trading range of 12600-12200. As discussed last week bank nifty was unable to close above the trendline resistance of 12540. Technically till 12540 is not crossed pullback till 12200 is very much on cards. This is what we discussed last week and Bank Nifty made high of 12571 and low of 12200 so we were able to catch the top and bottom of Bank Nifty :)

Bank Nifty Hourly

Bank Nifty hourly charts have pull backed from 12571 as discussed last week resistance at 12540. Bank Nifty has been trading in small range of 12200-12570.Breakout above 12600 and breakdown below 12200. Till this range is not broken better remain out of trade.

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