Bank Nifty continue to frustrate trend traders,EOD Analysis

Saturday, December 17 Leave a Comment

As discussed in Last Analysis  Bank Nifty opened gap down bounced from 18200 again for a move towards 18500. So the range trade continues in bank nifty for 18 days in  a row, more its will trade in the range bigger will be the breakout above 187000 or breakdown below 18200. Weekly close tomorrow bulls will see a close above 18500 and bears below 18200 Bank Nifty made high made 18428,Low made was 18268 so both 18500 range on upside and 18200 range on downside was not breached suggesting the choppy move continues, as trading activity will also come down for next 2 weeks as most of FII's will be going for holiday. Bank Nifty is forming small range of 18250-18500 so break of any 2 levels will see move of 250 points.    Visualizing Failure to be Successful


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