BANK NIFTY TRADING SYSTEM
Open : 10635.00 High : 10640.00
Low : 10170.00 Close : 10210.00
TREND : BEARISH
HEAVY SELLOFF IN BANKING SECTOR……….
Bank Nifty Futures met with heavy selling pressure throughout the day , as most of the major banks broke there intermediate support levels. It slipped below the crucial 10500 level and closed almost near the low point of the day @ 10210. The next major support now comes in at the 10000 mark. On the upside , the minor resistance comes in @ 10450 mark.
We are Bearish on the sector and any rally towards the 10500 level should be treated as selling opportunities with appropriate stop loss.
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