Successful Trader Have an open and Opportunistic mindset and they Never Speculate the Price they just trade the price as per there trading plan.
Bank Nifty on Daily Charts has been falling from past 11 Sessions a Straight fall from 10500 -9100 Level a Fall of almost 1400 Points.
Bank Nifty should always be traded with DISCIPLINE as its quiet volatile and give trending moves.
The fall in BN is attributed to Rise in NPA(Non-Performing Assets) with Economy slowing down and Interest Rate Cycle at its peak.
Banks need to keep additional cash which is called Provisioning to take care of such scenarios as per RBI norms which affects there Bottom line and Hence there Stock Price as market always factors in worst.
Bank Nifty is Buy above 9225 TGt 9275,9303,9340 and 9393
Sell below 9134 Tgt 9074,8970 ,8808 and 8692
ACC has resistance at 1019 which is trendline top and also the 200 DMA .
200 DMA is always know as trend decider for Stocks. Break above it is bullish and Below it bearish.
Buy above 1019 Tgt 1023,1031 and 1037
Break of 769 will lead to upside and Will try to fill gap @800 Levels Breaks if 748 will Let Stock to Touch Lows again.
Buy above 757 Tgt 764,770 and 776
Sell below 750 Tgt 745,737 and 727
I was Reading an Interesting Comment by George Soros He says its Stock Manet which drives the Economy as Investor Feel economy is slowing down hence they dump the Stocks which in turn lead to Weakness in Stock Prices and which affects investor sentiments and in turn lead the slowdown in economy.
If you Like the Material Provided Do Spread the Word for Site.