10 April 2018

NIFTY BANKNIFTY PREDICTION & FREE TIPS FOR 11-APRIL-18

"BUY YESBANK 330 CALL @ 5 TGT 6.9/8.4"

"BUY HEXAWARE FUTURE ABOVE 404 TGT 406.50/408.90                    SL 401.80"

ICICIBANK STRANGLE STRATEGY BOOK PROFIT

Lackluster trading session ended on positive note. Market gained for fourth straight session on Tuesday led by Axis Bank and ICICI Bank & firm global leads after Chinese President Xi Jinping's speech eased worries over a trade war. The Street has been consolidating on the positive sentiment of investors since mid last week.  The Sensex closed 92 points higher and Nifty future settled above 10400. The nifty future has opened at 10424 made a high of 10439 and low of 10392 & finally closed at 10421. The Nifty, in the last week, witnessed extension in the short term pullback that had originated from sub 10,000 levels in the penultimate week. The bounce is looking to stretch beyond the hurdle zone of 10,450-10500. The recent history, however, shows that any attempt to form a minor degree pullback fizzled out near the crucial daily moving averages. Going by the same structure, the transgression by the bulls is likely to be countered by a strong reaction by the bears. 
The weekly as well as the monthly chart shows that the index is not yet out of the woods & the larger outlook is still in favour of the bears. Thus from trading perspective, cautious approach would be prudent in the current market scenario. Breach of the level of 10250 can be taken as an opportunity to initiate fresh short position for the initial target area of 10200-10100 on the downside. On the flip side, however, if the bulls continue the domination & manage to surpass the hurdle zone of 10450 -10525 on closing basis then the stage would be set for a deeper retracement. In that case, 10,550 & 10600 will be the key levels to watch out for coming session.
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Resistance: 10450, 10500, 10550
Support: 10300, 10250, 10200

1 comment:

  1. HEXAWARE FUTURE ACHIEVED 1ST TGT 406.50 WAIT FOR FINAL TGT WITH SL OF COST.
    MORE CALLS WHATSAPP ME ON 09039542248

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