What Chart Says:
Bank Nifty formed a candle for 6th consecutive day and closing below the previous session low.
Behind the scenes:
Advance to decline ratio is around 33:17 in nifty 50
Except bank nifty all the other indices closed in green
FII for the second consecutive day pulled out 1569.04 crores
All European markets were flat when i publised this levels
All the banks closed on very high note
What to expect:
The bulls were back today and bank nifty closed on a 4% gain with a strong stop run day
How to trade today:
As being expiry have an extra caution. the global market looks strong as of closing yesterday and expect the bulish run to continue in the first half and possible profit booking in the second half.
Look for a narrow range of market move today.
1. GAP UP OPENING - First possible resistance is at 37108 and if it is taken out and if it acts as support then we can expect 37492 / 37708 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 35816. Any of these levels acting as a strong resistance can go short with possible lower targets of 35060.
3. Flat OPENING - 36566 is the key level to watch out on flat open any at this level we can take positions in the direction of the trend and sit for targets as marked.
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?? Each levels Act can as possible support and resistance????.
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You can also check out the Links in the signature for regular & LIVE updates.
Happy Trading !