Friday, April 29, 2016

BankNifty Trading 29 Apr 2016

BankNifty Trading 29 Apr 2016
Bank Nifty CMP :16775
Created long at this level with no definite target/time frame in mind.
Stop loss : 16547 (Continued trading)
Analysis:
Today structure of bank Nifty looks more promising than Nifty.It fall less in yesterdays fall.
Nifty CMP is at 7870 and its buy if it trades for some time above 7905-7910 range .
Mid term analysis  of bank nifty and Nifty :both are bullis as long Nifty is above 7770 and bank Nifty is above 16030-40 range.
Stops /Supports
Nifty : 7770-7810 range
Bank Nifty : 16480-16540
Update at 2;40 PM Stopped out and reentered longs in BankNifty
Created new longs in Nifty
Update : Exited long on 3rd may 2016  when Nifty dipped below 7770

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