Bank Nifty has fallen upto 50% from the rise of 17174 - 19229. Holding 18200 EOD and breakout above 18350-400 will result in an upmove. If Resisted at 18400 - then again a fall towards 18200 - break of which would drag BN towards 17900-17800.
50 DMA is 18330 and 200 DMA is 18300 - a FAST RISE set up is prevailing - On an EOD close above 18300 - it will come into play very effectively.
Trade Plan for today:
INTRADAY -
Buy above 18200 Sl 18150 Hour Close targets - 18350-400 spot values. If two Hour close above 18350 - then trail SL to 18350 CLOSE and hold the LONGS.
Sell below 18200 - SL Hour close above 18250 - targets 1800/17950/17800
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