…Next Swift (fast) Bank Nifty Index move
We closely track and follow the Bank Nifty moves from the last two weeks.
First, we capture the fall in Bank Nifty from around 31400 for 1200 points profit move.
In the second post (last week), we discussed. Bank Nifty can take support around the 30100-30030 range.
But we did not get the entry in a dip as Bank Nifty reversed from 30200 levels.
We got an excellent entry in Breakout trade on the hourly chart.
Today, charts show that we might see a fall in the Bank Nifty Index.
The level to keep in mind is 30500, so we should carefully watch price action near it.
If the market closes below 30500 or continues to sustain below it, we can see the start of the second round of sell-off.
On the downside, we can expect the 30100/29500 levels on a short-term basis.
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