A rangeboound trading
session, in continuation of a prevailing consolidation phase ended on flat note.
The nifty opened with strong gains, following supportive global cues but the
pressure in the index majors mainly from the banking space erased all the gains
by the end. However, rebound in the auto and IT majors capped the downside. The
Sensex erases entire gains, ends 81 points lower while Nifty slips below 9250
mark & closed at 9239 , after making intraday high of 9439 & low of
9219.
It’s almost a week now that Nifty has been hovering in a narrow range of 9200-9400 zone and continued weakness in the banking pack is pointing towards a breakdown soon. However, stocks, on the other hand, may continue to see erratic swings on both sides, in reaction to the earnings announcement. Traders should plan their positions accordingly. . The index now has strong resistance near the 9455-9500 levels, and if it manages to surpass and sustain above this zone, then we may see some change in momentum from negative to neutral. Below 9200, the index may once again see pressure towards immediate support at 9100 -9000.
It’s almost a week now that Nifty has been hovering in a narrow range of 9200-9400 zone and continued weakness in the banking pack is pointing towards a breakdown soon. However, stocks, on the other hand, may continue to see erratic swings on both sides, in reaction to the earnings announcement. Traders should plan their positions accordingly. . The index now has strong resistance near the 9455-9500 levels, and if it manages to surpass and sustain above this zone, then we may see some change in momentum from negative to neutral. Below 9200, the index may once again see pressure towards immediate support at 9100 -9000.
Resistance: 9455, 9500
Support: 9100, 9000
i have only 30 k , may i invest in this amount for nifty banknifty calls ?
ReplyDeleteyes you can do. for more details whatsapp on 9039542248
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