Banknifty for quite sometime we had discussed the importance of the 24100 zones. Yesterday markets tested the levels above that zone and managed to pull back to close near day's highs. This again re confirms that 24100-150 will be the immediate trend decider for long side trades.
Trading above that can BNF can go upto 25750 levels . where we have signficant selling pressure.
Overall long term trends till remain bearish and in coming months I again expect a test of the lows
Detailed volume profile charts are posted here @ powertrades.blogspot...m-scenarios-and.html
Trading above that can BNF can go upto 25750 levels . where we have signficant selling pressure.
Overall long term trends till remain bearish and in coming months I again expect a test of the lows
Detailed volume profile charts are posted here @ powertrades.blogspot...m-scenarios-and.html
Trade closed manually:
Hi All,
We have been mentioning 24750 as a target zone, markets turned around from there and had to close the trade with minor gains.
Now what may happen next? we may respect the 24080-24120 zones, then we can see a pullback to test 24350-80 again and wait for next direction to emerge.
Or we may breakthrough 24080 and go on to potentially test 23850 levels again.
All these levels , we have discussed on numerous occasions in previous ideas
We have been mentioning 24750 as a target zone, markets turned around from there and had to close the trade with minor gains.
Now what may happen next? we may respect the 24080-24120 zones, then we can see a pullback to test 24350-80 again and wait for next direction to emerge.
Or we may breakthrough 24080 and go on to potentially test 23850 levels again.
All these levels , we have discussed on numerous occasions in previous ideas
