Today Bank Nifty futures did close at 25660, and this close has been hinted in my morning post in this blog. All CEs below 25600 and CEs above 25700 perished. There is no big magic, it is all purely a number game and you too can get hold of it if you follow the numbers closely.
Now the next move for bank nifty is to catch 25780 tomorrow and hold on to it. If it fails to do that again you will happen to see a frustrating week. The above number holds the key for bullishness in BNF. Mark it and follow it closely. If that does not happen, chasing CEs is a futile exercise.
That is all with BNF.
On Nifty Futures, it is really very fascinating that NF makes new highs with surprises. Today's swift move towards 10682 was a big bonanza for bulls. Now 10600 acts as a strong support for Nifty Futures. Unless this is decisively broken, one cannot brush away the bullishness.
Be long in Nifty as long as the key level 10600 is held on a daily close basis.
Happy Trading!
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