Successful Trader cut losses asap and by doing so kept them small. Everyone will have its share of bad decisions in his/her trading career and keeping losses small in order to avoid huge losses is the toughest part.
Bank Nifty
Bank Nifty will be under pressure as whole Bank stocks round the world are in big pressure due to Greece issue. Citibank down 10% and Morgan Stanley down 7% in US yesterday.
Internals of Bank Nifty ICICI bank,Axis bank have broken or in the process of breaking new swing lows.
Technically speaking BN took support at 9156 trend line from 8917 which was swing low. Break below yesterdays low market is likely to open gap down BN if it breaks 9000 levels than we will see a quick slide till the swing low 8917 or slightly above it.
Sell below 9100 Tgt ..
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Rgds,
Bramesh
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http://www.brameshtechanalysis.com/
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