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Banknifty to the Moon 🌙 (24th August 2023)

1. U.S Markets closed higher Yesterday. 
2. Right now , Dow futures are higher.
3. Asian markets are higher.
4. Gift Nifty is up 60-70 points.
5. Yesterday was a pleasant surprise day specially for Bank Nifty. 
6. Markets have been trading in a tight range almost for last 2 weeks.
7. It was consolidating within a range.
8. Yesterday out of nowhere Bank broke out of its range.
9. Bank Nifty was facing resistance near 44100 on the higher level.
10. Yesterday this level got taken out.
11. As soon as this got taken out there was a huge rally ahead.
12. Nifty was higher by 50 points Yesterday. 
13. Majority of the Nifty rally was contributed by Bank Nifty.
14. Bank Nifty single handedly took Nifty higher.
15. 19300 on Nifty and 44200 on Bank Nifty have become very strong support levels now.
16. Those who are long should trail their stoploss to the above levels.
17. Firstly , I expected a Pullback rally from last 2 days 
18. Looking at yesterday's price action , this isn't just a pullback rally this has more Steam to go higher as well.
19. Bank Nifty has broken out yesterday. 
20. Nifty would break out once we get closing above 19550 on Nifty 
21. Nifty might trade between 19400 to 19600 today.


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