Bank Nifty Analysis V/s Reality for Intraday
My view was Bullish for today basis analysis shared in yesterday’s post. Bank Nifty Index traded exactly as per Inside Bullish Bar pattern. I was having “Buy on Dips” View. It was interesting to see the way Bulls defended Day low in afternoon which was followed by nice Short covering . Bulls then never looked back & taking excellent advantage they managed to close index at Day High! What a Day of Roller Coaster !! Superb execution by Bulls to continue momentum! It would be interesting to see over next 2 days whether this rally continues.
42700 Level is going to be important level for Bulls. We are in the final leg of Weekly candle shadow of 19 Dec for BNF. Hence, if Bulls are breaking this out, we will have Good Fire crackers if Global sentiment supports! Anyways, amazing start by Bulls for new year! Cheers!