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Bank nifty after a huge rally is expected to get some profit booking at resistance level.
29,600 is immediate resistance and if trades above 29,700 then can expect quick levels of 30,300 in next week .
Can go long on pullback to support zone .
I am trying to compare the USDINR surprise event ( Saudi attack) happened in last week and NIFTY event on Friday.
NIFTY rallied over 5% but most of day traders were expecting a max of 3 - 3.5% up only. Many people missed another 300 point rally on index.
Firstly, lets concentrate on Monday expectation... As per comparison with USDINR, at least 38% retrace is...
NIFTY has came near High resistance line and fall to 11279. We can expect NIFTY to fall and touch 10923 level in forth coming week.
By October, we can conclude whether the corporate tax cut is sufficient enough to boost economy or not. Breakout on High resistance line is required to conclude slowdown is over or not and whether NIFTY march towards 12200 level or...