As expected... panic continues in Nifty and Bank Nifty. It
made a low of 7747 and settled at 7765
Our sell call in BHEL and SBI is moving towards south
direction. Downside seems limited here but trade with levels only.
Now what to expect today?
Nifty future has support at 7740--7690 and resistance at
7830. Looks weak and could test its support level of 7740----7690.
Three consecutive closes + weekly close below 7690 will see
free fall in Nifty future else it could test its resistance level of 7830
again.
Above 7830 will see further upside rally till 7880---7920+
mark in days to come. More rally can be seen if Nifty future manage to break
7945 levels.
Today we will expect high volatility in Nifty and Bank
Nifty. So traders can trade safely with levels only and wait for confirmation.
Today's Top pick
BHEL... Above 170. Catch it with stop loss of 167. Target
looks 174----177.
(Above mentioned scrip price is as per Future scrips so trade accordingly)
Our 2nd top pick... Coal india.
Below 333... Sell it. Will see sharp downside panic till
290---275 mark in days to come. Any sharp rise will be selling opportunity in
it. Positional stop loss 345
**(Above mentioned scrip price is as per Future scrips so trade accordingly)
[Dear traders... Always trade with levels only. Stop loss is
God for this market.]
More will be update soon during market hours only on our
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