Showing posts with label nifty trading tips. Show all posts
Showing posts with label nifty trading tips. Show all posts

Thursday, June 1, 2023

THINGS TO KNOW BEFORE TRADING NIFTY ON 31 MAY 2023

  1. DOWN JONES FUTURE PRICE 32,957 DOWN BY 22 POINTS 
  2. DOWN JONES SPOT PRICE 32,908 DOWN BY 134 POINTS 
  3. Securities in Ban For Trade Date 1 JUNE 2023 : NIL
  4. STOCK MARKET EVENT OF THE DAY
  5. State Bank of India    Dividend : Book closure date from : 01/06/2023 to : 01/06/2023 1130

    Aditya Birla Capital Ltd.       Board Meeting : Preferential issue of shares

    Ester Industries Ltd. Board Meeting : Final Dividend

    Sky Gold Ltd.   Board Meeting : Final Dividend

    Hindustan Organic Chemicals Ltd.         Board Meeting : Others

    We Win Ltd. Board Meeting : Others

Wednesday, May 31, 2023

8.00 PM STOCK PICKS FOR TOMORROW 1 JUNE 2023

FOR LIVE TRADING TIPS & BUY SELL LEVELS IN THE BELOW STOCK FILL THE FORM VISIT https://forms.gle/HTEaPPsLvvCS7PiF9 

KOTAKBANK 

MARUTI 

BHARTIARTL 

INDUSTOWER 

DIXON 

CUB 

ADANIENT 

ONGC 

POLYCAB 

PETRONET 

SYNGENE 

TCS 

VEDL

Saturday, December 17, 2022

NIFTY OUTLOOK FOR WEEK (19-23 )DEC 2022

FOR THE LIVE CALLS JOIN US ON WHATSAPP 9039542248

 The headline equity index Nifty formed a bearish candle on Friday with a long upper shadow on the daily chart, indicating a sell-on-rise market mood. Now, as long as it remains below 18350, areas of weakness include 18081 and 18000, while obstacles include 18350 and 18442. The data on options point to a shift in the trading range from 18000 to 18600 zones and an immediate range from 18100 to 18500 zones. From 13.73 to 14.07, the fear gauge index India VIX saw a 2.48 percent increase. After a long time, the market reacted sharply on the negative side, causing volatility to rise from its lows. On intraday charts, chart readers noted a double top reversal formation and a lower top formation on the daily scale, pointing to further downside from the current levels. We anticipate that the 50-day SMA or the 18100-18000 levels will serve as support for the index during the following week. On the other hand, the index could test the 20-day SMA or 18550 above 18400, which could serve as immediate resistance. The index could reach 18700 in the event of additional upward movement. According to the weekly chart, the Nifty may fall to the next significant support of 18100-18000 levels in the upcoming week after falling below the crucial immediate support of 18500 levels. 18450-18500 levels represent immediate resistance. On a closing basis, the nifty has now slipped below the crucial swing low of 18350. The price structure should suggest that the development does not bode well for the bulls. A close below this support raises the possibility of a week-long correction. Despite our bias, we are still unconvinced by this close. In the upcoming sessions, only a follow-through selling strategy may result in further weakness toward 18130-18000-17900. Regardless of whether this situation works out, we don't anticipate that the revision should bother underneath the lower end of this help range. As long as we are able to maintain this, the higher degree up trend does not change.


Monday, November 14, 2022

NIFTY OUTLOOK FOR 15 NOV 2022

 FOR THE LIVE NIFTY OPTION/ BANKNIFTY OPTION /STOCK OPTION /STOCK FUTURE /NIFTY FUTURE /BANKNIFTY FUTURE /STOCK CASH / OPTION STRATEGY TRADING TIPS CALL OR WHATSAPP ON 9039542248

After a sharp bounce in the previous session, the Indian equity benchmarks ended lower on November 14 on mixed global cues, with the 30-pack Sensex closing 170  points  down at 61,624 and the Nifty 20  points lower at 18,329.The market opened flat and traded in the red for the most part of the session, finishing near the day's low. Although there were favourable domestic indicators, the market was under pressure due to weakness in the US and other Asian markets. India's wholesale inflation dropped below forecasts, aided by a slowdown in the prices of manufactured goods and fuel & electricity. In absence of any major event, participants will be eyeing crucial macroeconomic data viz. CPI and WPI inflation for cues. Besides, the performance of global indices and foreign flow trends will also remain on their radar. As we enter the last leg of the earnings season, companies like Biocon, Bharat Forge, Grasim, ONGC and IRCTC will announce their numbers along with several others. We’re gradually progressing towards the record high now, however, mixed signals from the global front are still keeping the momentum in check. Besides, we have not seen broad-based buying yet and participation from the index majors is also restricted.

 Resistance: 18300, 18350, 18440

Support: 18240, 18180, 18100

Wednesday, November 9, 2022

NIFTY OUTLOOK FOR 10 NOV 2022

 FOR THE LIVE NIFTY OPTION/ BANKNIFTY OPTION /STOCK OPTION /STOCK FUTURE /NIFTY FUTURE /BANKNIFTY FUTURE /STOCK CASH / OPTION STRATEGY  TRADING TIPS JOIN US ON WHATSAPP 9039542248

The Indian equity market broke two-day winning momentum and ended lower in a highly volatile session on November 9. The Sensex was down 151 at 61,033.55, while the Nifty was down 45 points at 18,157.Despite mixed global cues, the Indian market opened on a positive note .however, as the day progressed, the indices erased gains and turned negative with Sensex slipping below the 61,000 level. All eyes are now on the Inflation data expected this week as supply-side issues coupled with domestic demand would play a part given the way retail fuel prices have been behaving. Hindalco Industries, Power Grid Corp, Divis Labs, Tech Mahindra and Grasim Industries were among the top Nifty losers, while gainers were Adani Ports, Coal India, ITC, Dr Reddy’s Labs and Hero MotoCorp. Among sectors, except Nifty PSU Bank and FMCG, all other indices ended in the red with pharma, metal, auto and energy down. Nifty is currently in positive trend. If you are holding long positions then continue to hold with daily closing stop loss of 18030. Fresh short positions can be initiated if Nifty closes below  level 18030.

Resistance: 18160, 18250, 18340

Support: 18140, 18030, 17960

Monday, July 25, 2022

NIFTY OUTLOOK FOR 26 JULY 2022

The Nifty50 fell for the first time in the last seven consecutive sessions on 25 July 2022 ,week begging Monday .Oscillators like relative strength index and Stochastic also showed a downward move, indicating that the sentiments may have turned negative ahead of the Fed meeting. All these aspects indicate that this can be a profit taking after a six-day run-up we saw till last Friday, and traders seem to be cautious ahead of the US Federal Reserve's July policy meeting. As far as it gets support at 16,520 levels and around the big gap area of 16,360-16,490 levels created in the previous week, the positive trend seems to be intact. The selling in auto, pharma, select banks, FMCG and financial services stocks pulled the market down. The broader markets were also under pressure, largely may be due to profit taking as the Nifty Midcap 100 index was down 0.09 %  and the Small cap 100 index declined 0.6 percent on weak market breadth. About three shares declined for every two shares rising on the NSE. The Nifty50 opened lower at 16,663 and remained in negative terrain throughout the session. It touched an intraday high of 16,706 and low of 16,564, before closing the day at 16,631, down 88  points.

 Resistance: 16600, 16650, 16700

Support: 16500, 16450, 16400 

Tuesday, July 19, 2022

NIFTY PREDICTION OPTION CALL PUT TIPS & Q4 REUSLT REVIEW FOR 20 JULY 2022

20 july 2022

CEAT Ltd             

Century Plyboards (India) Ltd

Gland Pharma Ltd           

Hathway Cable & Datacom Ltd  

Havells India Ltd              

IndusInd Bank Ltd           

Mastek Ltd        

Oracle Financial Services Software Ltd   

Syngene International Ltd           

Tata Communications Ltd

Wipro Ltd

Indian benchmark indices experienced bouts of volatility amid weakness in global markets, IT and pharmaceuticals. But the recovery in banking, auto and metals stocks did a good job of counteracting this. Developed markets were negative on slow hiring plans announced by blue chip multinationals such as Apple Inc. in anticipation of a global economic slowdown. However, given the strong fundamentals of the Indian economy, we believe the immediate impact of the domestic economic slowdown will be milder than its global peers. The bulls continued their positive momentum for the third straight day. Benchmark indices extended the rally on July 19 with Nifty closing above 16300. At the close, the Sensex was up 246 points, to 54767 and the Nifty was up 62 points to 16340. Technically, Nifty/Sensex has not only cleared the short-term resistance at 16325/54700, but also manages to close above it, which is broadly positive. In addition, it is also holding a higher bottom formation and has formed a long bullish candle on daily charts. Markets extended gains, rising nearly half a percent amid mixed cues. Initially, weak global signals weighed on sentiment, but gains in select index majors, particularly in the banking sector, gradually pushed the index higher. Markets are taking solace from global indices and the boost from the banking package, which carries significant weight, further adding to the positive sentiment. The recent bounce in laggards like IT and metals has further eased the pressure.

Saturday, November 13, 2021

NIFTY OULTOOK FOR NEXT WEEK (15-NOV-2021 TO 18-NOV-2021)

The market snapped three-day losing streak on November 12 and regained the previous session losses led by the IT, power and realty names amid mixed global cues.At close, the Sensex was up 767 points at 60,686, while the Nifty was up 229 points  at 18,102.For the week, BSE Sensex and Nifty50 indices rose 1 percent each.The momentum which was lost during the week was regained as inflation worries started fading with investors shifting their focus to good quarterly earnings, economic recovery and strong domestic macro data points, The Nifty formed a bullish candle on daily scale and negated its lower highs - lower lows of two sessions, which suggests strength in the counter.At present, the index has a support level of 17,900, while resistance is at 18,250 levels. The index has moved above its strong hurdle zone of 18,000-mark which hints if prices managed to hold above the 18,000-mark, then one can expect a current pullback to extend further towards 18,200-18,300 zone, the immediate hurdle zone on the higher side.Also any dip near 18,000 mark will be again fresh buying opportunity.It formed a small bodied bullish candle on weekly scale with long lower shadow indicating declines are being bought despite profit-booking at higher zones.The index has to hold above 18,000 zones for an up move towards 18,250 and 18,350 zones. While on the downside, supports shifts higher to 17,900 and 17,777 levels. Next week would be crucial for the Nifty. If we can keep above 18,150 for a couple of sessions, the markets can scale higher to 18,400 and then 18,600. This will also take out the upper end of the current range which will add further momentum to the index.

WEEKLY RESISTANCE FOR NIFTY: 18200, 18300, 18400

PIVOT POINT: 17900

WEEKLY SUPPORT FOR NIFTY:  17900, 17700, 17500

WEEKLY CHART FOR NIFTY

Friday, May 8, 2020

NIFTY WEEKLY REPORT & VIEW FOR NEXT WEEK 11 MAY TO 15 MAY 2020

WEEKLY RESISTANCE FOR NIFTY: 9500, 10000,10500
PIVOT POINT: 9000
WEEKLY SUPPORT FOR NIFTY:  8800, 8500, 8000
WEEKLY CHART FOR NIFTY



















DAILY RESISTANCE FOR NIFTY: 9500, 9700, 10000
PIVOT POINT: 9100
DAILY SUPPORT FOR NIFTY:  8800, 8600, 8400
DAILY CHART FOR NIFTY


Our markets started the new trading week with a massive gap down of 400 points. In fact, the selling momentum continued throughout the remaining part of the day to eventually conclude tad below the 9300 mark by shedding more than 550 points. Monday’s massive cut was followed by a good bump up at the Tuesday opening; courtesy to some relief move in global peers. This was followed by some consolidation in the first half as index kept flirting slightly above Monday’s close. However, in the latter half, the selling momentum aggravated across the board and as a result, the Nifty not only pare down all gains but also went on to close with a cut of nearly a percent. After two days’ of pain, we started marginally in the green on Wednesday. But it was merely a formality as we saw index taking a nosedive in initial trades. At one point, things looked extremely bleak as we hastened towards 9100 within a blink of an eye. Fortunately, a strong buying at lower levels lifted markets higher. During the second half, there were some wild swings seen on both sides but the bias remained positive and as a result, Nifty concluded well above the 9200 mark. Thursday morning, our markets opened flat and then immediately fell in-line with SGX Nifty. During the initial hour, we saw some marginal recovery, but this rebound immediately got sold into. During the remaining part, the Nifty consolidated in a slender range to conclude the weekly expiry precisely at 9200.Indian domestic market ended in green on Friday after erasing most of the morning gains. sensex ended 200 points higher & nifty ended the week near 9250 mark.
NIFTY: A STRONG SUPPORT WILL BE @ 8500; STRONG RESISTANCE LEVEL SEEN @10000

Thursday, March 19, 2020

NIFTY BELOW 9000 MARK; MARKET OUTLOOK FOR 20 MARCH 2020

BUY NIFTY 7400 PUT 26 MARCH  190 TGT 250/320
Nifty continue to bleed in Thursday’s session as well due to worries over a case of community spread of the virus, investors fear further impact from Covid-19 and are preferring cash instead of investments. The Sensex closed the day at 28288 levels, down 581 points. Nifty ended at 8263, down 205 points.

Tuesday, February 25, 2020

NIFTY OUTLOOK FOR 26 FEB 2020

The Nifty opened higher as an attempt to rebound after 2 percent correction seen in the previous session, but turned volatile for the rest of the session and finally settled moderately lower on February 25. Traders remained concerned over the spread of the coronavirus in other parts of the world outside of China, including Italy, Iran, Kuwait, etc.The index closed a tad below 11,800 levels and formed a bearish candle on daily charts as closing was lower than opening levels. Stocks witnessed a lacklustre trade on Tuesday amid lack of any

Friday, February 14, 2020

NIFTY WEEKLY OUTLOOK & OPTION CALL PUT TIPS FOR 17 FEB TO 21 FEB 2020


GET CALLS LIVE ON WHATSAPP PING ON 9039542248 FOR DETAILS 
WEEKLY RESISTANCE FOR NIFTY: 12200, 12300, 12400
 PIVOT POINT: 12100
WEEKLY SUPPORT FOR NIFTY:  12000, 11900, 11800
WEEKLY CHART FOR NIFTY


















DAILY RESISTANCE FOR NIFTY: 12150, 12200, 12250
PIVOT POINT: 12110
DAILY SUPPORT FOR NIFTY:  12075, 12035, 12000
DAILY CHART FOR NIFTY
Nifty Started the week on negative note. Sensex falls 162 points. Nifty50 remained in the negative terrain for the second consecutive session on February 10 as fast-spreading China's coronavirus raised fears over global growth. The index managed to defend 12,000-mark, but closed below 50-day exponential moving average (which placed around 12,054) and formed a bearish candle on charts as closing was far lower than the opening price.On Tuesday Bulls staged a smart comeback after 2 days of resting. Positive outlook by the principal economic adviser also aided domestic sentiment.  There have been some encouraging signs with respect to the spread of coronavirus as news reports suggested that the epidemic could plateau in the next few weeks. However, it continues to remain one of the key monitorable for global markets, including India. On the domestic front, the last leg of earnings announcement would induce stock-specific volatility. Further, key macroeconomic data like CPI, IIP and WPI would also be actively tracked by the investors and traders. The Sensex snapped 2-day losing spree & went up by 237 points at 41216 & Nifty reclaims 12100 up by 76. Though the market movements would be linked to global market sentiment in the short run, the ultimate direction would be decided by domestic earnings. On Wednesday Bulls come back strongly and pushed above 12200 mark tracking gains in Asian markets, on hopes that the worst of the coronavirus in China may have passed. Positive commentary from the government and some encouraging data from Reserve Bank of India also helped the market sentiments to get raised. The Sensex rose 350 points to close at 41566, while Nifty climbed 93 points to settle at 12201. On Thursday Bulls looked little scared as investors reassessed the scope of the coronavirus outbreak after China's Hubei reported a record rise in the death toll. A Surprise drop in industrial output for December and a rise in January inflation to a six-year high also dampened the sentiment. The Sensex dipped 106 points, to 41460 levels. The Nifty gave up the 12200 mark to settle at 12175, down 27 points. Indian indices were trading at day's low in final hour of Friday's session as banks and telecom stocks remained under pressure after the Supreme Court rejected the plea seeking new schedule of AGR payments and ordered contempt proceedings against Bharti Airtel and Vodafone Idea. The Sensex was trading 230 points lower at 41230 levels. The Nifty hovered around the 12100 levels, down 67 points & finally closed the week at 12113.
NIFTY: A STRONG SUPPORT WILL BE @ 12000; STRONG RESISTANCE LEVEL SEEN @12300

Friday, November 15, 2019

MARKET OUTLOOK OF 15 NOV 2019

Equity market ended an action-packed day in the positive territory on Friday, though the benchmark indices trimmed most of their gains towards the end of the session.  The last hour selling wiped out most of intraday gains of the benchmark indices on November 15 with Nifty managed to close near 11,900 level. At close, the Sensex was up 70 points at 40,356 while Nifty was up 23 points at 11,895. We may notice the bulls ruling the market in coming trading session .Shares of telecom companies - Vodafone Idea and Bharti Airtel surged amid hopes that the government would step in to help the ailing sector, a day after the two companies reported a combined loss of Rs 74,000 crore and warned their ability to operate and make profits would depend on relief from the country.SBI, Bharti Airtel, HDFC Bank, Reliance Industries (RIL), and Sun Pharma contributed the most to the index's gains while ITC, TCS and Maruti were the top drags. In the broader market, the S&P BSE MidCap index ended at 14,773 levels, up 93 points while the S&P BSE SmallCap index slipped 17 points to end at 13,326.
More about intraday tips on Google +
Resistance: 11950, 12100, 12200
Support: 11900, 11850, 11800

Thursday, July 11, 2019

NIFTY BANKNIFTY TIPS TO TRADE FOR 12 JUL 2019

FOR  CALLS  JOIN US NOW WHATSAPP 9039542248
Bulls failed to retain control as Nifty failed to hold on to 11,500 on a closing basis while Sensex fell nearly 200 points in volatile trade. Sensex fell 173 points to 38,557 while Nifty closed 57 points down at 11,498. The index closed below 100-day exponential moving average placed around 11,500.The next big support for Nifty50 is now placed at 11,316, which is 200-day EMA. We advise investors to trade cautiously and wait for clear signs of a breakout for initiating long positions. Nifty formed a bearish candle but it closed above July 9 intraday low of 11,461 that suggests there is a possibility of a pullback. If the index breaks below this level then the selling pressure could extend towards 11,420-11,300, while a close above 11,600 could bull back in charge.
More about intraday tips on Google +

Resistance: 11600, 11650
Support: 11450, 11400


Wednesday, August 1, 2018

NIFTY TRADING TIPS 02-08-18


NIFTY contd forward march in morning trading session and touched the record high of 11390
But there was sudden downfall in noon session where in we saw nifty trading at the levels of 11341 and finally settled at 11350.Tomorrow again the bulls will take the charge and we may see nifty struggling to cross the resistance level of 11400.but if it manages to do so the next hurdle of bulls will be 11450
The domestic stock market indices closed Wednesday's session on a negative note after Reserve Bank of India (RBI) raised interest rates for the second straight meeting today. The S&P BSE Sensex slipped 84.96 points, or 0.23 per cent, to close at 37,521.62. The NSE's Nifty50 index tripped 10.30 points or 0.09 per cent and settled at 11,346.20. The loss in equity indices were pulled down by financial and auto stocks.

Friday, June 8, 2018

NIFTY WEEKLY PREDICTION & CHART FOR 11 JUNE TO 15 JUNE 18

WEEKLY RESISTANCE FOR NIFTY: 10850,10875,10900
 PIVOT POINT: 10650
WEEKLY SUPPORT FOR NIFTY :  10600,10525,10475
WEEKLY CHART FOR NIFTY



















DAILY RESISTANCE FOR NIFTY: 10775,10800,10825
PIVOT POINT:10700
DAILY SUPPORT FOR NIFTY :  10725,10700,10675
DAILY CHART FOR NIFTY

Tug of war between bulls and bears from day one. Bears were heavy on 1st two days i.e. Monday & Tuesday but finally bulls snatched the rope in their hand and managed to touch level 10814 but bears did not diminished from the race and again showed some strength to pull back nifty till the level 10725 on Friday. After a 2-day spell since Reserve Bank of India's (RBI) rate hike which saw the Sensex rise more than 500 points, equity markets on Friday opened in the red as investors opted for profit booking ahead of the weekend. This week nifty future has started at 10732 made a high of 10814 and low of 10552 and finally closed at 10738 down by 76 points.
As predicted by us in our previous weekly report nifty has successfully passed the critical zone 10750 & made a high 10814 & closed at 10748.

Wednesday, April 18, 2018

NIFTY BANKNIFTY TIPS FOR 19 APR 2018

19 april 2018  would be good voaltile as well Nifty future failed to hold 10596 & closed at 10550. Nifty continued with its winning momentum, and ended  session in the green Though the session ended with modest gains, it saw a V-shaped intraday recovery while the Nifty tested its important near-term resistance. 

Wednesday, February 28, 2018

NIFTY PREDICTION & FREE NIFTY TIPS FOR 01 march 2018

FOR FREE NIFTY/FUTURE/OPTION TIPS FILL UP THE FORM HERE>>>>>

NIFTY is on a SIDEWAYS course, as top end of the band @ 10630, pushes NIFTY on back-foot
The downside rally could test all the way through 10450-10300 levels in the upcoming weeks

On Tuesday, Matching global cues index opened gap up but could not hold the gainsas PSU banks were under selling pressure which overall took away the positive sentiment and Nifty was trading around crucial levels of 10640 which it could not sustain.The Sensex has opened at 34155 made a high of 34302 and low of 34076 and closed at 34184 , loss 162 points. The nifty future has opened at 10495 made a high of 10555 and low of 10466 and closed at 10519 with loss 44pointsThe Sensex ended lower by 162.35 points or 0.47 per cent at 34,184.04 and the Nifty closed down by 61.45 points or 0.58 per cent at 10,492.Domestic sentiment was hit as fears of faster interest rate hikes in the United States hurt investor risk appetite. Traders also remained wary ahead of IIP data for February and December quarter GDP numbers to be published later today.Later the index slipped to sub-10,540 mark and finally after a narrow range oscillation, finished trade with the loss of 28 points at 10,554 level.On a daily chart, the Nifty closed below its 22&55 days moving average which is placed at 10557 level which shows negative momentum in the Index.Today, the start of the session is likely to be on negative side on weak global cues and traders will be eyeing the dataprint for the December quarter GDP and fiscal deficit data that will be announced later in the day. Asian and European markets exhibited mixed trend ahead of Federal Reserve Chairman Jerome Powell’s highly anticipated first congressional testimony later in the day.A break on the lower side 10460 of the trading range will open the doors for testing of 200dma(10090).
For the coming session, 10600 – 10640 would continue to act as immediate resistance; whereas, 10460 - 10380 remains to be an important support zone. However, in case of further decline, its 200-day moving averages (placed at around 10,090 level) will continue to work as key reversal point.Nifty continues to move in a range (10400-10640). This can be termed as a Consolidation with a bearish bias. A narrow range seems like a precursor of a bigger move which is likely to follow. A break on the upper side of the range will lead the Nifty to test 10670-10700; whereas a bearish  breakout to the trading range will lead the Nifty towards the Flag target of 10400/10290.
Resistance: 10600, 10640, 10670, 10700

Support: 10500, 10470, 10400,10290

Wednesday, February 21, 2018

NIFTY CAN FALL UPTO 10200 LEVELS

BUY NIFTY 10400 CALL @ 25 TGT 39/54
 SELL TATAMOTORS FUTURE BELOW 364 TGT 361.7/358.5 SL 367.4

FOR FREE NIFTY/FUTURE/OPTION TIPS FILL UP THE FORM HERE>>>>>

NIFTY follow the Key Resistance @ 10430-10500 AND Support @ 10330,10090; intermediate bounce back possible if sustains above 10430
Snapping its three-day losing streak, the Sensex ended higher by over 140 points on value-buying by domestic investors in IT, banking, FMCG and oil and gas stocks amid a firm trend in Asian bourses.The Sensex has opened at 33813 made a high of 33911 and low of 33702 and closed at 33844 , up 141 points. The nifty future has opened at 10405 made a high of 10409 and low of 10341.4 and closed at 10390 with up 50 points.On Tuesday, NIFTY witnessed decent rebound post a flat opening, but later failed to surpass the intraday resistance of 10,430 level during the day, where a narrow range consolidation failed to save index from extending losses. Finally, NIFTY closed the session near its day’s low of 10,390marks, with cut of 50 points.

Wednesday, February 14, 2018

NIFTY PREDICTION & FREE NIFTY TIPS FOR 15 FEB 2018


FOR FREE NIFTY/FUTURE/OPTION TIPS FILL UP THE FORM HERE>>>>>

Yesterday’s banknifty achieved target of 25300 made a low of 25250. As predicted by us in our last POST “BANKnifty will trade negative towards 25300”and exactly same happened and is expected to continue negative move towards 25000..!!

 NIFTY follow the Key Resistance @ 10590-10600 it can slip back to Support @ 10420,10375; intermediate bounce back possible if sustains above 10600

The benchmark indices ended lower on Wednesday taking cues from its key Asian peers.Massive sell-off in banking sector stocks pulled the key Indian equity indices lower and
heavy selling pressure was witnessed in banking, healthcare and automobile stocks.
Nifty maintain 10590-10600 zone makes it a Strong Resistance & as long as it holds below this it is likely to remain under pressure. 55 days EMA is near 10585 levels. Support is seen at 10420 below which it can extend downside till 10300/10250 levels. A decisive breakout above 10600 is required for a bounce back till 10660 / 10755 levels from where it can slip lower again, until then is it likely to remain under pressure.