Nifty
:
Nifty
has closed at 7212.45, flat to slightly up. Again today, it tried successfully
to cross 7230; it made a high of 7236.90 & closed slightly lower than high
made today. The way Nifty moved today, even after touching a low of 7151, it
seems that it may touch the upper region of 7300 & 7370 again. It did a
remarkable recovery from the lower point of the day, but the close is a concern
yet. Unless it closes well above 7230 / 7240, an up move is not expected. As
stated earlier, 7100 is a strong support for short term. Cross & a
sustained trade of Nifty below 7100, can drag Nifty down again to the
support zone of 6980.
Bank
Nifty :
Bank
Nifty closed at 14,358.90, 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. 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.
No comments:
Post a Comment