20300, 19730 & 19275 are Fib levels on weekly charts.
Pull up your socks for the upcoming week's volatility. First goal should be to minimize risk and protect your capital. Second should be to profit.
BankNifty is going to be highly volatile among all the sectors due to fiscal deficit figures, Govt borrowing schedule etc. So taking positions at these levels (marked in the chart) with proper risk management would be prudent. Don't get caught in euphoria (Don't buy near resistances) and excessive pessimism (Don't short near support levels).
Market will be looking only one thing which is LTCG. Taxation is a huge issue for market participants. If it doesn't come then market will remain in bullish territory.
Events like Budget can only make market volatile for a day or two but these events don't usually change the trend and don't forget the trend is up because of global events (Rally across the world equity markets) and second demonetization didn't hurt the economy as expected (Results of companies are better that anticipated).
Once budget is out of the way, we are expected to catch up to the global equities and make fresh highs in the coming months.
Cheers!
Pull up your socks for the upcoming week's volatility. First goal should be to minimize risk and protect your capital. Second should be to profit.
BankNifty is going to be highly volatile among all the sectors due to fiscal deficit figures, Govt borrowing schedule etc. So taking positions at these levels (marked in the chart) with proper risk management would be prudent. Don't get caught in euphoria (Don't buy near resistances) and excessive pessimism (Don't short near support levels).
Market will be looking only one thing which is LTCG. Taxation is a huge issue for market participants. If it doesn't come then market will remain in bullish territory.
Events like Budget can only make market volatile for a day or two but these events don't usually change the trend and don't forget the trend is up because of global events (Rally across the world equity markets) and second demonetization didn't hurt the economy as expected (Results of companies are better that anticipated).
Once budget is out of the way, we are expected to catch up to the global equities and make fresh highs in the coming months.
Cheers!
Comment:
Short on BankNifty. 19300-350 is coming.
Comment:
SL hit and went long...made 100 points in 5 mins...Cheers Volatility..
Comment:
BankNifty crossed 20150 may touch 20300 today.
