Once again Markets opened in green yesterday with Nifty future gaining 1.45% showing positive momentum continued and closed at 7475 before closing bell. We are holding long in Nifty future from 7100 and Bank Nifty future from 14200 mark.
Nifty future traded in one way traffic showing that market has buyers and sustained rally from previous day gains and continued to keep the market momentum up for market.
Our calls on NCC , Ajanta Pharma, Bharti Airtel, and Reliance Infra has proven great .We booked profit and minted money in tons.
We also recommended buying in LT above 1190. Also recommended BTST around 1200---1190.
It settled at 1215 before closing.
Let see what will happen today???
“Hope you all Minted money” Just trade with level and you will mint money.
Still need trial... need not to worry at all. Watch more!!
Now what to expect today?
Nifty futures showed a gap up opening with bulls running rampant and jumped 137 points while and closed at 7475 with gain of 1.45% in the index.
Above 7470 we will see further upside rally till 7500---7520 and then to 7570 mark. More and more power will see only close above 7570 mark.
Three consecutive closes + weekly close above 7440 will see sharp upside move in it.
Fresh selling can initiate only close below 7360 mark
On the other hand Bank Nifty future struggled and showed volatility at open . It gave an gap up opening in green made intraday high of 15206 then struggled to keep up with market but ended on a positive note with 71 points on the board due to short covering.
Bank nifty looks strong on charts and can sustain rally.
Bank nifty seems to be capitalizing on the stimulus package infusion by government which may cause the rally to sustain in upcoming session along with it expectation of rate cut decision too weigh on it.
Currently Bank nifty has resistance at 15291 and support at 15015-14868. Bank Nifty looks high on fuel as PSU bank were among top gainers and lifted the market by providing a much needed bullish run in previous rally. One may have to look for correction and profit booking at current level carefully to build position.
Today's top pick
LIC housing finance... After three sustainable rally we have seen some pressure build up in this stock at upper level.
Traders can sell LIC housing finance future below 445 with stop loss of 450 for the downside target of 439---435. Lot size is of 1100.
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