On Wednesday...we have seen range
bound trading though traded in a range. Still we are holding long in Nifty and
Bank Nifty trend is positive till unable to breach its support.
Now what to expect today
Nifty
Nifty future has support at
8150----8090 and resistance at 8280. It looks positive and could test its
resistance level of 8280.
Three consecutive closes + weekly close above 8280
will see skyrockted till 8380---8450+ mark in days to come else it could test
its support level of 8150---8090 again.
Further panic seen only weekly close
below 8090 mark. Weekly close below 8090 will see panic till 8055---8020 and
then to 7960 mark
7930 act as major support
Bank Nifty
On the other hand.. Bank Nifty has
support at 17500 and resistance at 18000. Overall trend looks positive and
could test its resistance level of 18000. Weekly close above 18000 will see
nonstop rally till 18400---18650 mark.
Fresh selling can initiate only close
below 17500 mark
Be cautious in Nifty and Bank Nifty at lower levels...
Any sharp panic will be buying opportunity in it but trade with levels only.
Anything seems will update.
Today Top pick
RECLTD... Looks positive and could test its resistance level
of 268. Two consecutive closes above 268 will see nonstop rally till 278---283+
mark in days to come
Positional traders can buy in panic.
Stop loss 245 on closing basis
2nd top pick
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