Charts still not very positive until it crosses 233 level.
Possible short @ current level with stop loss slightly above 233 for a target of 180 level.
Use stop loss
Close above 233 on daily basis will open a Long position for a target above 245 +
I have done analysis on the Bank Nifty using supply and demand dynamics. This is candle by candle analysis. We are currently in consolidation phase and at resistance zone. The catalyst to break the resistance would be positive surprise in earnings of bank nifty companies. Negative surprise may lead to downward pressure on price with the confirmation of resistance area.
CUMMINSIND has gained 3.16% on NSE with 3.45 times its average volumes supporting fresh long positions in FNO segment on NSE. The stock is in an uptrend trading above ichimoku.
Take a JAN Positional Long on this stock in Options. Please consult your financial adviser before investing.
BUY AT : 848
Target 1 : 890
nifty has consoildated between a 40 point range from last 2 sessions ... the ATR of two days as well as the next session will bring a one side move of average 150 + point ... crucial level already given in chart!