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Thursday, February 18, 2016

19-02-2016 - Index views



Nifty :

Nifty has closed at 7190.85, even today 1% up. As we are posting since few days, it did try to reach the second target of 7230. It made a high of 7225. We have already said that closing above 7230 is a must for a good up move. if it trades & sustains above 7230, we may expect 7300 & 7370 kind of levels. 7370 is a very stiff resistance for the time being. And as mentioned, 6980 is a support. Resistance & support, both the areas are bound to interrupt the move. One may trade according to these levels handy. Further levels will be discussed here after a significant move.

Bank Nifty :

Bank Nifty closed at 14,289.80, even Bank Nifty has given almost 1 % move. we have mentioned about the resistance / targets of 14,250 / 14,300. And it almost closed at around the resistance of 14,300. An another close above 14,300 might take Bank Nifty to 14,400, 14,600 & even 14,800 also. These are the possibilities & levels which one may keep handy for trading. Stop Loss is at 14,100 on closing basis. 14,800 is a very stiff resistance and further levels & strategy will be posted once we break any significant level on closing basis. Trade well, trade safe.

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