It has been the Bank Nifty which has shown 1st sign of weakness in compare to Nifty. I have been talking of 10400 levels as an important spot level for Bank Nifty. So as long it remains below 10400 I see continuous weakness in Bank Nifty where on the downside it will try to take support & bounce from the region of 9899 which is the first important support area and below that at around 9450 if not more.
Bank Nifty strong only above 10450/10500++ closing.
Nifty finds immediate strong support in the region of 5990 & 5930
Bank Nifty strong only above 10450/10500++ closing.
Nifty finds immediate strong support in the region of 5990 & 5930
That's how the scenario changes in a single day@
ReplyDeleteBank Nifty spot finally above 10400/10500 which was its tough resistance.
Now what?
Well its a buy on dip market now as long it holds 10400 on closing basis.
Market looks strong now and bears could face tough problem adjusting themselves. Short covering will be seen in various short position.
Nifty immediate support at 6080 and resistance at 6134/6143- 6188/6200
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ReplyDeleteStock future tips
very nice post... as a person who is involve in nifty trading as well, i learned some stuff as well.. MCX tips
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