The banknifty last two days trades in sideways that too in a very tight narrow range.Today it opened in gap up from 10986 to 11000 and touched a days high of 11134 level.The 11k level it traded for a long while more than few hours and it stand still almost and traded in 20 points range.Its very rare in banknifty as it used to be eratic.
We made very conservative trade and out of 3 trades we made abt 70+ points gain(1 sl hit for 17 points)Now we expect the gap down opening tomorrow as the nifty and BN has so many hurdle to claimp up.
The Nifty was struck and finally touched the 5550 level.If it cross 623 level it may act wildly bullish or another chance to fall down to 5400 level.The Banknifty may again attract sell at present.it may fall down to 10800 level as there were so many gaps left unfilled.
RBI bank was rescued with a 46 billion pound ($58.48 billion) state bailout during the 2007-09 financial crisis.capitalstars
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