BankNifty - Spectacular rally! Target achieved.

Nifty Bank Index (NSE:BANKNIFTY)

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NSE:BANKNIFTY Nifty Bank Index

Posted 4 or 5 days ago when BankNifty was at 18300 -350 that it has given a buy signal & will race towards 19250-19300. What a ride, almost 1000 points locked in that too in 7 trading sessions. Now should take a breather and consolidate in 18900-19300 range but watch out for weekly closing above 19300-19350 then jump on board as it will rally further to 19750 & then 20500.

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High possibility of profit booking here at 19275 levels ahead of BN weekly options expiry and big banks' results tomorrow. Tactical Short at 19272 Fut, Stop Loss 19310.

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Short worked 100 points fall in a flash. Wait for more, now weak hands are being taken out. Hypothesis of consolidation in 18900-19300 seems to be good for next few days.

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Kudos! 120 points booked on the short side.

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Be careful on the short side, BankNifty uptrend is very strong.

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Dream trade! started from 18300-50 went exactly in the zone 19200-300. Now coming back from there. Amazing! Thoroughly, enjoyed the ride.

Kommentar:

Dream trade! started from 18300-50 went exactly in the zone 19200-300. Now coming back from there. Amazing! Thoroughly, enjoyed the ride.