Ahead of expiry... We have seen range bound trading in Nifty. Market traded between small gain and losses and settled almost flat to negative.
We have already mentioned our success on our blog yesterday where we booked good profit in Motherson Sumi and SKS Micro finance. We have booked full profit in Nifty and Bank Nifty too due to expiry.
Just Keep trading with our levels and Keep Minting Money.
Now what to expect???
Nifty Futures now has resistance at 7800---7840. It has to give a weekly close above 7840 level to further carry the bullish rally else it could test its support level of 7660---7600 again.
Fresh selling will initiate only weekly close below 7600 mark
Bank nifty has a resistance at 16300 which would remain crucial to cross for a bull rally else short selling in the market can be expected as some analysts still believe that this bull rally is just a correction phase and bear may take over.
Support remains intact at 15700. Further downside panic will see only weekly close below 15700 mark.
Trade safely with levels only... More levels will update during market hours
Today's top pick....
Yesterday we have seen positive momentum in IDEA and crossed its resistance level of 113. Three consecutive closes + weekly close above 113 will see sharp upside rally in it. Target looks 126---136 and then to 145+ mark in days to come
Support and stop loss below 100.
More will be update soon during market hours!!
