June 24, 2019

...Next Optimal Bank Nifty Index move

We are closely tracking and following 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 30100-30030 range.

But we did not get the entry in a dip as Bank Nifty reverse from 30200 levels. 

We got the excellent entry in Breakout trade on the hourly chart.

Now today charts are showing that we might see fall in the Bank Nifty Index.

Level to keep in mind is 30500 we should carefully watch Price action near to it.

Any close or if the market continues to sustain below the 30500 levels, then 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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