BANK NIFTY FUTURE
Just like nifty bank nifty is running in a channel in weekly chart, and taking resistance from 18000 level, we can short bank nifty from CMP for the target of 16500 our SL will be 17500. If we talk about quarterly results of the banks just SBI has presented a good result but PNB and Bank Of Baroda’s results was below estimations. Now all eyes will be on Bihar elections results.
Call: Short
CMP: 17315
Initiation Level: 17100
Book Profit (Level 1): 16900
Book Profit (Level 2): 16520
Stop Loss: 17500
Conviction Level: moderate risk
Reasoning- strong support has been broken
Short term Trend: Recovery
Medium Term Trend: up
For the Traders: buy on deeps
For Aggressive Traders: sell on rise
Support: 16600-16500
Duration: 4-5 Days
FOR OUR MORE TIPS BELOW: -
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