Nifty
:
Nifty
has closed at 7736.30. It is a flat to positive close. After a huge breakout,
another up move was expected but it did not come. Now a slight correction or a
range bound movement is expected tomorrow. If it sustains above 7750 and trades
above it, then only it will show the real strength and move upward. One must
keep a trailing Stop Loss of 7600 for a long in Nifty. The upper targets are
intact as 7800 & 7860 for a short period of time. In case of a
sustained trade below 7600, one may see the Nifty marching towards 7500
& 7430 kind of levels. Keep these levels in mind & trade safely.
Bank
Nifty :
Bank
Nifty closed at 15,936.20; Bank Nifty is trading in a range & unable to
sustain the higher levels. Today it has taken a breather. Now for short term
basis, one may keep a Stop Loss of 15,700 for fresh / recent longs in Bank
Nifty. 16,200 / 16,400 are very much visible on the horizon. So overall the
trend is good. Keep holding longs until it breaks your trailing Stop Loss.