As shown in the pic,
NIFTY clearly took support at the bottom trendline
Next Swing may be towards the upper trendline which coincides with the psychological resistance of 16000.
One may sell 16000 - 15500 Put with hedge
Kotak Bank has a strong resistance 1810. It's struggling to cross since April. Now it is testing the resistance 8th time. If it breaks, the momentum may be high. Keep an eye on this stock.
Disc : For education purpose only
As NIACL broke out two trendlines in this week with massive volume, it's expected to go higher. Now it has formed flag & mast, the upside potential is very high.
One can look for targets 153, 160+ with SL below 134.
Pay your insurance premium this month from NIACL.
I hope the chart says everything, Short BNF below 18100 for a easy target of 17600. If BNF breaks minor trendline above, then wait for test of major trendline. Then decide your trade accordingly.
Share your views if you have anything more to say.
