Nifty :
Nifty
has closed at 7512.20. After a one day pause, it again closed in green. There are
no changes in levels as yet. It is trading in a narrow range as it has gone too
far on the upper side from the recent bottom and that too in a very short
period of time. So a consolidation or a small correction is a also welcome. Now
the point is that what a trader should do? Well, for a positional trader, the
recommendation is very much clear. Buy any dip. A good support zones are at
7370 / 7400 & 7240. Any dip around these levels will provide a good buying
opportunity. Please DO NOT FORGET, 7100 is a trend reversal signal &
level. So just keeping in mind these levels one can buy in options also to
keep the risk low.
Bank Nifty :
Bank
Nifty closed at 15,243; even Bank Nifty is going on the line of Nifty. After a
good up move, Bank Nifty is trading in a range and consolidating. There are chances of going up & there is
no change in levels as yet. Bank Nifty traded flat to slightly in positive
zone. As we have stated, the support zone is intact at 15,000 for short period
of time. As stated earlier, at around 14,700 we may decide whether to buy for
short term or not. Above 15,700 we may see 16,100 also. Trade safe & trade
with levels mentioned.
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