Yesterday after a Gap up opening banknifty had given up all the gains and closed in red. Trading very much in the triangle and downward channel.
Today 200 Week EMA 9079 should be protected on closing basis. Upside resistance is 9340-50 and downside supports are 9050-80 and break of it in panic will slide upto 8959... and after that next support comes around 8500.
Covered Shorts near the Low and exited longs near the high... Extraordinary nimbleness Sir
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