Nifty
:
Nifty closed at 7519.20. Bang hit
the target. As stated in previous report / post, it did touch the first target
of 7520 successfully and sustained it. The long awaited target came. Only worrying
thing is the close. It closed at dot target. Just in case, if it does not
hold the levels, the StopLoss for short term is at 7370 on closing basis. On
Monday if it sustains & trades above 7520 for some time, fair chances are
there to hit 7620 also. Those who have bought on the day before yesterday,
around 7420 can very well trail the StopLoss now at 7420 & ride the rally.
BankNifty
:
BankNifty
closed at 15,226.20, a huge positive close. As we always mention, BankNifty
always outperforms Nifty, today it closed 2% up. It ran almost 400 points from
the low of the day & tried & almost hit the targets of 15,000 &
15,300 also. The next hurdle is at 15,700. In case if it breaks successfully
& starts trading above that, the higher targets are 15,800 & 16,200
also. In case of reversal, one can keep 14,900 / 14,800 as a very strict and
closing basis StopLoss. We have fair chances to see the higher levels in
BankNifty very soon. Keep a proper StopLoss & trade safe.
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