Last week... we have seen vertical crash in Nifty and Bank
Nifty. Both unable to sustain at upper levels and crashed vertically.
We recommended exit from Nifty buy call around 8250 due to
weakness shown on daily chart.
On Friday... We clearly mention that R factor will work
tremendously.
Our buy call in Reliance infra from 390---410 proven great.
On the other hand... Our buying recommendation on Reliance
capital and Rcom too proven great.
Not only this... We recommended buying in JSWENERGY above
94.30. It made a high of 94.15 and slipped again. See... Power of levels
Still need trial... Need not to worry. Watch more
Now what to expect today???
Nifty future... Below 8063 will see further panic till
8032---8018 and then to 7973. More and more panic seen only close below 7940
mark else it could test its resistance level of 8093 again
Above 8093... Will see dead cat bounce in Nifty till
8122---8155 and then to 8200 mark.
On the other hand... Bank Nifty has support at 17200 and
resistance at 17500
Below 17200.... Sell it. We will see further fall till
16900---16650 mark. Fresh buying can initiate only close above 17500.
This week... we will expect range bound trading in Nifty and
Bank Nifty. So traders can trade safely with levels only.
More will update during market hours.
Today's top pick
Idea... Support at 139 and Resistance at 143.50
Once break and sustain below 139 will see vertical crash
till 135---133 mark in days to come.
Fresh buying can initiate only close above 143 mark.
Traders can sell Idea around 141---142 with stop loss above
143.50.
Our 2nd Top pick..
Tata motors.. Looks extreme weak on charts. Upper side
breakout with volume will decide further else we will see heavy fall in Tata
motors in days to come.
More levels and target will update during market hours.
