Yesterday... we have seen negative bias trading in Nifty
future while Bank Nifty traded positively due to Moody's increase Indian
banking outlook from negative to stable.
Our sell call in Nifty proven great. We recommended selling
below 8063 for the downside target of 8032---8018. It made a low of 8022.50 but
unable to sustain and bounced back.
Still need trial... Need not to worry. Watch more!!
Now what to expect today???
Nifty future... Support at 8022 and Resistance at 8100.
Below 8022 will see further panic till 7973---7942 mark.
More and more panic
seen only close below 7920 level else it could test its resistance level of
8100 again.
Above 8100... will see dead cat bounce in Nifty till
8132---8155 and then to 8205 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.
Two consecutive closes above 17500 will take to 17800---18000
mark.
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.
Top pick for the day
Today we love Cement and Banking stocks.
ACC... Yesterday traded with positive bias and this trend
remain continue in today's trading session too.
In panic will buy with stop loss of 1370 for the initial
target of 1425---1440+ mark in days to come
Don't forget to hold RECLTD as we are bullish in it. Anytime
we will expect mind blowing rally in it.
2nd Pick will update during market hours on our Android App.
