Hello & Good
evening !
NIFTY : 9930.45
As we have mentioned in
our previous post, there is a strong resistance & support zone at 9880
& 9700 and any big move is possible once crosses these important levels.
the result is in front of you all. Once we crossed 9880, we sustained the gain
and then the NIFTY made a high of 9954 & closes at 9930.45, a stronger
close. Now there is a very stiff resistance at 9960 to 9990 zone. It must cross
& stay above that level for a day at least for any further strong up move.
in case of any weakness one must keep 9860 / 9840 levels in mind while trading
long in NIFTY. These are the key levels and once broken sustainably, may start the
downward journey once again to test the recent lows. So caution is expected in
that case. Else, the uptrend continues for 9990 and more also if it sustains
the 9990 level on closing basis for the couple of days.
BankNifty : 24,145.40
Comparatively,
BankNifty is weaker than NIFTY. In my previous post, I have mentioned the
levels of resistance & support. Amazingly, it almost touched the resistance
mentioned in my post & came back. The levels of 24,270 / 24,300 as resistances
& 24,000 as a support are still intact. One may look for these levels &
keep it handy for any positional trades.
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