PowerTrades

BankNifty Follow Up action 20th Nov

Long
NSE:BANKNIFTY   NIFTY BANK
16942 was the low made today just above our crucial trend decider levels. Also Top made at 17330. so if traders are looking to still follow up with the trade, next hurdle now above that will be 17400 and 17540. supports emerge at 17140 zones
Trade closed: stop reached: The crucial levels of 17330 got definitely respected and despite the hype markets failed to clear it. I was worried about that level hence had send an intraday note on BankNifty. Further a short was taken when 17140 was breached which provided a good trade too. again a decent day from intraday point of view but swing traders would be getting whipsawed at this point far too often.

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