Ticker

Tuesday, February 2, 2016

03-02-2016 - Index views


Nifty :
            Nifty closed at 7474.95. Yesterday, specifically written that after completing the target of 7600 / 20, we have to see the price action behavior and analyze. Nifty did correct after the target hit. Please note, this correction is a small correction of an ongoing Uptrend until it closes below 7420. So now one can buy fresh around this level or with a Stop Loss of this level on closing basis. In case it trades & sustains below 7370, one can sell Nifty with a strict Stop Loss of 7450. Like this we have both the views with a crucial day tomorrow as far as levels are concerned.

BankNifty :
                        BankNifty closed at 15,112. BankNifty closed on exact support level. Tomorrow will be the make or break day for BankNifty. The upper targets for BankNifty are 15,300 & 15,700 initially. In case BankNifty trades & sustains below 15,100 for an hour’s time, consider it as a selling signal for the lower targets of 14,800 & 14,400 initially. If in case of a sudden bounce & sustains above 15,150 one may buy the BankNifty with a strict Stop Loss of 15,000. So now we have two levels & ways to trade depending on the price behavior during market hours.

No comments:

Post a Comment