NIFTY may find some resistance at 11215

NSE:NIFTY   Nifty 50 Index
its uptrend still continues.
may find some resistance at 11219.
go long in nifty unless today's low is broken.
we should not short nifty on daily basis,
any comment is welcome.
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please find the attached chart about the turn around of nifty


sir the 78.6% levels at near abt 11,400 is approaching do you see Nifty breaking that and confirming the trend reversal or do you think it might not be to cross that and head back to make lows, may be below 10k.
bijoy2526 Poison_1907
@Poison_1907, it may touch that level .if you mark you can find there is a gap there it may attempt to fill up the gap too.
one concern is that this expiry people may start profit booking on that day. going below 10k right now does not seem to be.
+3 Reply
hr387 bijoy2526
@bijoy2526, please rever my query sir
But sir , now CE premiums are very high , what you think is it a great opportunity for option sellers to earn good amount by selling calls and make nifty bearish , which will ultimately feel those 2 gaps he created yesterday and today
bijoy2526 Vaibhav_date_offical
@Vaibhav_date_offical, I think it is strong impulse move hence selling ce at this point may not be wise as per me.but I may not be right all the time,any bad signal may trigger heavy selling.
I bought Hathway cable share at 36 rupees recently. Can I still hold it or book profit in the share tomorrow (closed at 53/- today).
@rajkod, tomorrow it may touch 54.15 I think you should book profit at 54.
Sir is there a correlation between bank nifty and nifty. I am assuming bank nifty has contributed to the gains in nifty
bijoy2526 dshuvendu
@dshuvendu, yes many banks in nifty 50 like hdfc bank,kotak bank,icici bank.sbin etc
dshuvendu bijoy2526
@bijoy2526, thank u for explaining
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