It turned out to be a very volatile day for the market yesterday as both Nifty and Bank Nifty opened a bit high, went extreme down and finally recovered closing slightly positive. Nifty closed at 7614, just gaining 11 points where as Bank Nifty was down 58 points just to close at 15636.We are still experiencing Banking sector effecting the market as price is still not settled after the 25 bsp cut in repo rate.
Our Calls are still open despite market volatility and we will book profit soon.
Our buy call of Jet Airways skyrockted and made a high of 634. Our initial target intact 640.
Hope you all minted money... Just trust us and keep following our levels, you will mint money.
Now what to expect from Nifty and Bank Nifty today??
Nifty Futures could not close above its nearest resistance of 7645, making a close at 7640. Next hurdle is at 7680. It has to cross these hurdles to gain momentum again.
Nearest support is now at 7580. A break below this level can expect Nifty futures to touch its next support if 7530---7480. 7430 act as major support.
Above 7680 will see more upside rally till 7725---7740+ mark.
On the other hand... Bank Nifty futures although remained weak but closed above its support of 15665, making a close at 15730. If it close below this support level of 15665 can bring more weakness in Bank Nifty till 15455---15365.
Immediate hurdles at 15880. A close above this levels is important for the bulls to take over again.
Till then, Just trade with our levels and keep minting money.
Today's Top Pick
Grasim.. We have seen rally of 2% in yesterday's trading session and we will expect this rally to remain continue in today's trading session too.
Above 3920 in cash... buy it. We will see rally till 3980---4020+ mark.
Support at 3870
More will be update soon during market hours only on our Android App!!
