BANK NIFTY INDEX Trading Tips - Index moving up from trend line and fibonacci retracement support zone , further buying expecting once closes above 15750 - As per technical analysis charts point of view. (Updated On 23rd July 2014, Wednesday).

  • As per previous report published - BANK NIFTY INDEX gave a strong 250 pts weakness after coming out from its range bound zone and touched its 23.6% fibonacci retracement support zone of 14,400 level. (Click here to read previous report on BANK NIFTY INDEX).
  • Now Daily chart indicates BANK NIFTY INDEX is moving up from 23.6% fibonacci retracement and strong trend line support zone, as long as holds above BANK Index will favor bulls.
  • Daily chart also indicates Index will be facing strong trend line resistance (previous top) around 15750, once index closes above 15750 and stays above then further strength is expecting and index can move up higher. 
    • Intraday close watch once index starts trading above 15750, Once starts trading above 15750 and stays above then intraday bull action is expecting in BANK NIFTY.
  • Once stock closes above 15750 and if stays above then Bank Index will find next resistance around 16600 (161.8% fibonacci retracement) as shown above in chart.

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What is Intraday Tips ?

Q. What is Intraday Tips / Inraday Trading / Delivery trading.

A. There are basically two types of trading on stock market--
1- Delivery
2- Intraday

Delivery trading is one in which shares are bought and can only be sold after they are delivered by the broker.that means that they cannot be sold the same day , and delivery takes two to three days after they are bought and then they are ready to be sold.

Intraday trading which takes place for that very particular day and there is no delivery..they can be bought and sold the same day...and are automatically sold at the end of the trading session if you have not sold it by yourself during the trading session. The person who suggest such types of forecast is called

Intraday Tips