Nifty :
Nifty
has closed at 7485.40. We are writing since past few days, that a small
correction and / or a small consolidation is expected. After achieving our
second & final target of 7580 for twice, it consolidated in a very small
range of few days & yesterday it came down a bit. Since the trend is up &
good, any dip around 7370/7400 and 7240 are to be considered as buying
opportunities. Fair chances are there for Nifty to bounce from these levels.
7100 is a trend reversal signal. On the upper side there is a bright
probability of touching 7680 / 7710 in a short period of time. Keeping these
levels handy may make the trading a bit comfortable & to be in a safer
boat, one may trade in options.
Bank Nifty :
Bank
Nifty closed at 15,398.90; 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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