Bank Nifty closed at 25195 -Weekly Expiry. It’s been a consecutive 3rd week, Bulls have won.
Making a low of 23606 on March 23th. Bank Nifty has recovered 2000 Points.
Trade War, Geo-Political Tensions, Bank Scam, Election Focus, Markets have rebounded from the lows.
Now, the Million dollar question – how to trade BANKNIFTY
Support – 25000,24820,24660 &24480
Resistance- 25280,25480,25580, & 25750
Bulls have to close above 25430 for yet another week of victory.
Bears have to close below 25210 for the comeback
24920-25210 is a range where bears will try to pull back if they succeed -good but the irony is bears have to come back in April Series only if they close below 24480.
Till then this markets will be- To and Fro from the above range
With Syria Tensions, We don’t know how markets will react
Never Predict the Markets.Each Minute is Unique.
With Bank Scam, NPA Issues, Bank Nifty moves above 25730 -would be surprised
Bank Nifty may close above 25730 for a week or Two, then Smart money knows what we don’t know.
Henceforth, Better Be light in position sizing in the upper range
HDFCBANK, KOTAK are Two Important Stocks to watch out.
Trade Less- Trade From Savings Money
All the Best