Nifty and Bank Nifty Technicals.

Nifty uptrend will continue today, buy at 10084 or upto 10115 for a target of 10177.

Buy Bank nifty around yesterday close for a target around 24600 levels

Nifty and Bank Nifty Trading Levels.

• Our market is under performing compared to US market. We are still moving slowly towards higher levels, but the momentum is missing.  My view about another low near 9685 levels in nifty is fading now, since nifty showing some good support around 9830 levels,  I think we have bottom out around 9700.  Look to buy around today 9930 levels and lower levels if nifty opens flat and keep a stop loss around 9870 levels in stop level will give a target around 9980 levels in future.
• Bank Nifty is lack of momentum,  SBI and ICICBank is not performing in the index, if they perform from today, Bank nifty can cross 24320 levels.  
• Metal showing consolidation and look to move up in today's trade. Hindalco and jindal steel may be bought today.  Sunflag Iron can go up to 90-92 levels, cmp 80.8.
• Cement Stocks moved yesterday, they can move up today to give support to nifty. Ultra tech, Ambuja  looks good for long side.
• DCB Bank and Federal Banks looks good today to take long call.

Good Luck...

Nifty and Bank Nifty Technical Look.

Nifty managed to close higher today, but still it is not out of wood, there is still some selling is left to drag the nifty close to 9700 levels in the coming few sessions.  Bank Nifty around 23600 to  23500 levels got good support. Selling around 24250-24350 with stop at 24600  for a target around 23600 is a good trade for few days.

Sell nifty around 9950 level and try to cover around 9750 levels and take long at 9700 level to look for the target around 10200 levels and above. This is what my thinking for the next few session in nifty.  If it is happens, good otherwise, I have to plan B. as of now there is no Plan B.

Let us wait and see how the next few days will move the nifty...


Good Luck...

RBI Meet and Index level - 4th oct 2017

Nifty support is around 9825- 9830 level today. Resistance around 9890 -9920 levels.
Breaking this level will make nifty to touch 9750 and even 9685 in the coming session.
Bank Nifty has strong resistance around 24360-24400 level.
It may test the previous low of 23600 level in the coming session. If RBI holds the rate.


Market may take some time, may be one to two weeks in sideways in the nifty and bank nifty.
Better to trade intra day and wait for some good entry point in the long side.

Tomorrow watch HUL and Adani port for intraday long side.

Good Luck...