Nifty :
Nifty
closed at 7430.70, a huge 2 % jump with 140 points up. As rightly we have
mentioned in previous report, much awaited bounce came. There will be
hurdles around 7520 & 7600. Hold or exit the longs, will be decided
after observing Nifty’s behavior at these levels. One has to be cautiously
longs with a trailing StopLoss for all the longs. We might see another bout of
up move on Monday.
Bank Nifty :
BankNifty
closed at 15,493.30, with a huge 2.6 % up move with almost 400 points jump. As
we always mention, BankNifty outperforms Nifty. Observe the behavior of price
at two major hurdles at 15,700 & 15,900. We may see another jump
also but one has to keep a trailing StopLoss to all the longs & be cautious
on higher levels. Ride the rally.
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