Bank Nifty closed at 25645, Markets were UP for the last week
How to position to trade for the coming weeks
Bank Nifty Support – 25580,25440,25350,25280,25210, & 25130
Resistance – 25660,25750, 25850,25950, 26080 & 26180
ICICI Bank & SBI Results will be out in the coming weeks
Bulls have to be a bit cautious for next 7 trading session on the upside
It could be trap or trend change –time will decide, professional traders, need to have patience and respect the price actions
Bulls-Magic Number for the week – 25820-860 on UPSIDE
Bears- Magic Number for the week – 25420-280 on Downside
With Karnataka Elections on the final stage, SBI & ICICI yet to announce the results.Markets will be a bit slippery on both the sides.
25050-25350-25850 is a tough range for bank nifty
Break of these levels and close for 2 weeks on either of the levels, will decide the trend for the markets for the next quarter
Example- 25050 has to be taken out by bears for at least for 2 weeks, if they need to come back to the contest
Bulls have to be taken out i. e 25850 for at least for 2 weeks if they need to show their strength going forward
Trade with less quantity on the upside
Trade from savings money
All the Best
Sagar U.S
