Bank Nifty Analysis buy ,sell or hold 16 September 2016 onwards
Last close of bank Nifty is 19837.55.
In longer term trend it is also in bull market as the main indexes Nifty and Sensex are.It is more bullish as Bank Nifty was near kissing zone of all time high of 20900 zone.Unless proven otherwise its in bull market correction and and any big dip will be useful to build long positions. 18900 is important support for the bull run.
In medium term its stuck between 19700-19950.So no trade zone is between 19600-20100.
Limiting the number of trades inside congestion zone is best option. Below 19700 level is tempting to build some long positions. Or else long positions are possible once it crosses 20100 decisively.
One safer approach will be wait it to break lows and then return to 19900 levels to build longs.
But no shorting if it manages to close above 20100
Last close of bank Nifty is 19837.55.
In longer term trend it is also in bull market as the main indexes Nifty and Sensex are.It is more bullish as Bank Nifty was near kissing zone of all time high of 20900 zone.Unless proven otherwise its in bull market correction and and any big dip will be useful to build long positions. 18900 is important support for the bull run.
In medium term its stuck between 19700-19950.So no trade zone is between 19600-20100.
Limiting the number of trades inside congestion zone is best option. Below 19700 level is tempting to build some long positions. Or else long positions are possible once it crosses 20100 decisively.
One safer approach will be wait it to break lows and then return to 19900 levels to build longs.
But no shorting if it manages to close above 20100
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