Bank Nifty sees rollercoaster ride, EOD Analysis

As discussed in Last analysis Bulls need a close above 19928 to be back in the game for target of 20155, Any close above 20155 will take us towards 20576/20600 levels. Bears below 19700 can push bank nifty towards 19451. Bulls need a close above 19928 for a move towards 20155/20380. Bears will get active only below 19700 for target of 19451. It was a High volatile day, as Bank Nifty moved above 19928 at opening and than quickly did the target of 20155, High made today was 20227 but we saw a rapid fall also and again close was below 19928. Most of the traders were not able to book profit as they were all looking for the higher target, Thats why i always emphasize on partial profit booking, trailing SL which every trader needs to implement to protect capital and profit. Always remember main aim is to protect capital, profit will come eventually. High made today is very crucial as its at the second green arc

Continue Reading