BankNifty - Consolidation ahead!
Diupdate
BankNifty has run up from the lows of 17600 to 19275. Now consolidation is highly likely in the band of 18900-19300. Before the next move. Play carefully. Weekly closing above 19300-350 will trigger further rally but till then choppy and rangebound.
Catatan
Exactly as expected, This is what is called rangebound and choppy markets. short term traders both Buyers & sellers vl be frustrated becoz it is not easy to sit idle. Trade small near the supports & resistances. Trade carefully.Catatan
BankNifty morning low is 18922, touched the lower end of the new range as mentioned and bounced back sharply 150 points in 3-4 minutes. Great Morning.Catatan
Buy BankNifty fut at 19025-30 with SL 18999Catatan
Whipsaw! SL hit by a whisker, didn't sustain there on board again there abouts.Catatan
Book small profits near 19040-50 and stand aside. Probably today is a no trade day. Extremely choppy.Catatan
Touched the low 18915, range low again and bounced.Catatan
Low 18867. Don't short. This is consolidation on Monday it may go up.Catatan
BankNifty is bit volatile but in consolidation mode. It has multiple supports between 18600-18900 even if it broke 18900 but it was not a short rather wait for a reversal and buy. It zoomed from 18722 to 18850 in a few mins. Good MorningCatatan
Intraday traders should book profits at 18900.Catatan
Buy BN at 18790-800 SL 18740 tgt 18895-900Catatan
Booked intraday positions and carried fwd the positional longs. Great day today.
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