As expected... we have seen high volatility in Nifty and Bank Nifty future in yesterday's trading session. Now budget session is over and will expect regular move in equity markets. We clearly indicated to sell Nifty spot below 7005 mark. It crashed and made a low of 6826 but unable to sustain and bounced back sharply.
Our buy call in M&M and ITC while sell call in BHEL proven great.
We also recommended selling in Nifty 7200 PE and 6900 CE on the total of 520. Now at 470.
Now what to expect today?
Bank Nifty formed Gangotri pattern on daily chart. Below 14000 our target was 13400---12900. It made a low of 13407 and bounced back sharply to 14200 mark and settled at 13947.
For next 1-2 trading session we will expect consolidation phase in bank nifty but trend looks positive in it. Fresh selling can initiate only weekly close below 13400 mark.
Traders can buy and accumulate Bank Nifty around 14000---13800 with strict stop loss below 13400 for the upside rally till 14800---15300+ mark in days to come.
On the other hand.. Nifty future will trade in a range of 6800---7200. More levels and target will update soon
Today's top pick
ACC... bounce from lower levels. Above 1200 we will see rally till 1230----1245+ mark
In panic will buy with stop loss below 1170 on closing basis.
Trade safely with levels only.
More will be update soon during market hours only on our Android App!!
