Scenario 1@ As long Bank Nifty spot stays over 10400 there's nothing to worry and a big bounce is expected close to that.
Scenario 2@ Only a closing below 10400 will make Bank Nifty spot much weaker adding more weakness to the market.
Probability@ Both Nifty & Bank Nifty spot could bottom out at the same time where Nifty have very strong support close to 5960/5930 where Nifty today closed around 6018 and I expect Nifty to take support and give a solid bounce. While Nifty corrects to 5960/5930 Bank Nifty could also correct close to 10400 and give a solid bounce.
Overall its a go long market around the mentioned level.
We have given both side view so trade accordingly.
We have been guiding at money mystery facebook about various things including Nifty's level.
Kind Regards,
Manish Bothra,
Kolkata.
Scenario 2@ Only a closing below 10400 will make Bank Nifty spot much weaker adding more weakness to the market.
Probability@ Both Nifty & Bank Nifty spot could bottom out at the same time where Nifty have very strong support close to 5960/5930 where Nifty today closed around 6018 and I expect Nifty to take support and give a solid bounce. While Nifty corrects to 5960/5930 Bank Nifty could also correct close to 10400 and give a solid bounce.
Overall its a go long market around the mentioned level.
We have given both side view so trade accordingly.
We have been guiding at money mystery facebook about various things including Nifty's level.
Kind Regards,
Manish Bothra,
Kolkata.
Breaking Alert@Breaking Alert@ On 13th Nov@ Bank Nifty spot hits intraday low of 10412.05 n bounced.
ReplyDeleteNifty spot hits intraday low of 5972.45 and bounced.
So far in line with the given view. Almost bang on.
So the bounce should continue.
Whenever markets gets into crisis like situation Money Mystery has acted as an crisis manager on many of the important occasion.
ReplyDeleteWhen both Nifty & Bank Nifty spot were tanking we came with the following view on 12th Nov@
http://moneymystery.blogspot.in/2013/11/nifty-tired-or-its-pause-before-big-move.html
Scenario 1@ As long Bank Nifty spot stays over 10400 there's nothing to worry and a big bounce is expected close to that.
Scenario 2@ Only a closing below 10400 will make Bank Nifty spot much weaker adding more weakness to the market.
Probability@ Both Nifty & Bank Nifty spot could bottom out at the same time where Nifty have very strong support close to 5960/5930 where Nifty today closed around 6018 and I expect Nifty to take support and give a solid bounce. While Nifty corrects to 5960/5930 Bank Nifty could also correct close to 10400 and give a solid bounce.
Overall its a go long market around the mentioned level.
We have given both side view so trade accordingly.
We have been guiding at money mystery facebook about various things including Nifty's level. (End)
On 13th Nov Nifty spot hits low of 5972.45 whereas Bank Nifty spot hits low of 10412.05
From there Nifty bounced back to 6157 and Bank Nifty spot bounced back to 11096 so far when this message posted giving away upside of 184 & 684 points respectively in just 2-3 trading session from the tight mentioned support level.
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Kind Regards,
Manish Bothra,
Kolkata