After consolidating at the levels of 21000 -22000 bank nifty has finally break the levels ahead and opens the range of 23000-24000 for the coming while making sure base at levels of 21800-22100
Be cautious with each trade.
On the levels of 491 Indusbank has finally makes breakout. And if sustain above the current levels then we can see the further upside to the levels of 633.65. With a Support base zone at 400-390 Levels.
With lots of positive news & daily new turbulence in the Stock Market. The Benchmark Index i.e. Nifty & Sensex both are at the highs.
But does this high leads to a new high or it's a hoax.
As Considering News Factors -- Markets will be making new high.
But on the look of Fundamental patterns -- Higher Inflation, Under-quoting of NPAs by Banks, Fraudulent Activity...
Bank is moving smartly.
with building each downside a strong base.
Thus, in coming days we can see the bank trading in the range of 1595-1610 range.
With an Support base range of 1485-1475.
Pound has break all its resistance levels by making a bottom at the 83.35 levels.
And within a month it has given an incredible returns of up to 10%.
Now it is again try to test its major resistance levels which can lead it to another highs of 94.80-95 levels. So,
Buying Levels if it crosses Rs. 92.50 Levels.
For the TG: 94.85 levels With the SL: 90.14 Levels.
USDINR after reaching its high level range 72.20 is trying to test -- support range of 71.20-71.40
Any break down in any levels may lead to the further down levels of 70.48.
On the Resistance side, it may test 72.53 & 73 levels in the coming days.
Be Cautious with each trade.
After reaching at the levels of 1630 Kotak Mahindra has consolidated back to its level of 1561. And this is the third time it is following the same pattern.
With an Stop Loss of 1520. Kotak is again trying to reach or even might break its level of 1630 in coming days.
Market Commentary|Investiture.in|Personal Financial Planner in Jaipur
After, making a Cup and Handle Pattern nifty is trying to consolidate to at nearly support range. Can be considered as an opportunity to buy on every dips with following levels:
Buying Range: 11850-11900
Tg Range: 12110-12250
for coming days.
Nifty & Sensex both has been reaching its new high but Bank Nifty still struggling to cross the levels of 30200-30388 levels. Once these levels are crossed, expect Bank Nifty to reach at 31000, 31400 & 31800 Levels.
With a Strong base support at 28900-29000.
Be Cautious with each trade.
Stock Market is turning around.
With all the bad news quite for while. But on technical front, after the release of MPC by RBI and considering the USDINR rate at 71.30 for analysis purpose. The rupee has started depreciating to new levels.
After breaking the levels of 71.20 -- USDINR is moving ahead for the immediate Resistance range of 71.60, 72.10 and 72.40...
Nifty has break all its major resistance levels and trying to test its major high levels.
With Technical levels it looks like it is trying to make a Cup with Handle Pattern. So Be cautious with your trades.
This Diwali we might see the new levels of Nifty. But still who know the bad news.
So have a strict SL of 11470-11490 Range.
Or buy if it gives opportunity at...
Near the high with corporate governance issues bring the giant at yearly lows.
On technical front
Infy may be testing @₹600-620 levels
Before any rebounds
Applicable below@660 close
Watch the levels closely. Nifty after making 3 days of continuous higher high. Nifty is giving an opportunity for new high.
But a Stop Loss is always a necessary thing to consider.
Nifty levels on upside for the target of 11538
Sl with the levels of 11385-11390
With rising global concern and economic slowdown in the Indian Economy. Nifty doesn't showing any sign of Bullish trend...
with continuous 6 days fall in the Nifty a Small short-covering occurs. Making it more cautious for coming days.
With Shorting at the levels of 11265-270, for the Target of 11020-11000 with SL range of 11410-11425.