BankNifty Futures: Our Breakout zone was 17140 levels for past few posts. this provided a fabolous trading opportunity nearly giving 400 points gain in 2 sessions. Banknifty 1754--640 is a congestion zone and may be tested at these levels. Once cleared we can see a test of the 18000 zones. on the downside we could potentially hit back 17240 zones if we want to trade shorts. ON this counter i will take an intra day decision on the real time charts
Comment:
BankNifty Futures: Banknifty futures had an important close below the critical levels of 16930. It will be interesting to note if the markets maange to hold below these levels. If it does we could see a test of 16630 and 16340 below.Existing short trades from the levels of 17400 odd can be now trailed closely and this can provide a short pull back opportunity if the levels hold. short traders must note that we had to quick a correction too soon hence some bit of retracements might be expected. key would be to see the sustainance below or above the zone of 16900-950.