Nifty :
Nifty closed at 7428.30. Nifty has closed absolutely flat
even on third day today. 7520 & 7600 are still valid resistances and target
points. Today was the expiry, which was flat. In case from tomorrow onwards,
Nifty picks up the upward momentum, & if it trades sustainably above 7520,
we might see even 7600. The close below 7400 will be a danger for bulls for
short term. So any fresh longs can be initiated with this StopLoss on closing
basis or one can ride the rally with old positions with a trailing Stop Loss.
Those who can, must wait for a clear signal.
Bank Nifty :
BankNifty
closed at 15,397.20. As we always discuss, Bank Nifty outperform Nifty in both
the ways. Even today, Nifty is flat but Bank Nifty drifted downward almost 1 %.
There is a small support at 15,330, it can bounce anytime around this level.
15,800 & 16,200 are still valid targets unless it breaks & closes below
15,000. Further targets can be discussed later. At this point in time one may
enjoy any rally with a strict Stop Loss of 15,000 on closing basis. Trade
safely, trade wisely.
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