Nifty - Will it touch 21000?

Nifty Spot View: 05/12/2023

CMP: 20686.80

Moving AVG (EMA) 20 Hour & 40 Hour: 20413 & 20238

Moving AVG (EMA) 20 Day & 40 Day: 19850 & 19697

Support & Downside Range: 20620---20558—20507--20410

Resistance & Upside Range: 20750—20800 zone, 20850—20960--21115

Short Term Trend Reversal Level: -- 19768

Trading View: yesterday we saw amazing show by bulls and we closed at all time highs, in yesterday's trading session nifty has reached near upside band of the rest zone which is 20800, RSI is overbought in all time frame be it 1hr, 4hr and Daily, now in today's trading session key level to watch is 20620—20558 support break below this support zone we may get first sing of pause in ongoing up move and nifty may try to give pull back till minimum 20507 to 20410 spot levels, whereas upside 20800 is key level to watch out on closing basis if nifty manage to sustain and close above it then up move can get extend minimum 20850 to 20960 and max 21115 with overbought RSI so understand the importance of 20800 spot here and act accordingly and manage your position.

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Banknifty - Will it Catch up?

Bank Nifty Spot View: 05/12/2023

CMP: 46431.40

Moving AVG (EMA) 20 Hour & 40 Hour: 45924 & 45410

Moving AVG (EMA) 20 Day & 40 Day: 44618 & 44169

Support & Downside Range: 46150--45950—45625—45360--45000

Resistance & Upside Range: 46500—46700—46980

Short Term Trend Reversal Level: -- 43265--43230

Trading View: In today's trading session key level to watch is 46150 as support after opening if this support gets breach then we may possible see profit booking dip towards minimum 45950 to 45625 and max 45360—45000 levels whereas if 46165 manage to hold then up move in bank nifty gets extend till minimum 46500—46700 and max 46980 levels so understand the importance of 46150 support and act accordingly to manage your position.

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Finnifty - What Next?

FINNIFTY View For: 05/12/2023

CMP: 20862.90

Moving AVG (EMA) 20 Hour & 40 Hour: 20656 & 20432

Moving AVG (EMA) 20 Day & 40 Day: 20053 & 19817

Support & Downside Range: 20675—20549—20343

Resistance & Upside Range: 21105--21370

Short Term Trend Reversal Level: -- 19470

Trading View: In today's trading session key level to watch is 20675 support as long as fin nifty remains above this support zone bulls of fin nifty may try to extend the up move till minimum 21105 and max 21370 levels whereas after opening if 20675 gets break and sustain below it then we may possible see profit booking dip till minimum 20549 to max 20343 levels so understand the importance of 20675 support and act accordingly and manage your position.

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Nifty will Open Gap up - BJP Win in State Elections gives Confidence to Market

Nifty Spot View: 04/12/2023

CMP: 20267.90

Moving AVG (EMA) 20 Hour & 40 Hour: 20159 & 20053

Moving AVG (EMA) 20 Day & 40 Day: 19762 & 19646

Support & Downside Range: 20225--20016

Resistance & Upside Range: 20350—20525--20800

Short Term Trend Reversal Level: -- 19768

Trading View: After stunning win by BJP in 3 states in today's trading session key level to watch is 20525 spot levels after gap up if this rest manage to hold then immediate basis we may see profit booking to start in the market and once again nifty may drag downside towards 20225 to 20016 levels whereas if 20525 breaks and we get 30 mins to 1hr sustain above it then intraday move gets extend till 20800 spot levels so understand the importance of 20525 spot rest here on intraday trading basis.

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BankNifty will Salute BJP Win in 5 State Elections

Bank Nifty Spot View: 04/12/2023
CMP: 44814.20
Moving AVG (EMA) 20 Hour & 40 Hour: 44772 & 44587
Moving AVG (EMA) 20 Day & 40 Day: 44165 & 43930
Support & Downside Range: 44750--44250
Resistance & Upside Range: 45060—45545--46090
Short Term Trend Reversal Level: -- 43265--43230
Trading View: In today's gap up trading session key level to watch is 44750 as long as bank nifty remains above this support zone its trend remains sideways to bullish for upside minimum 45060 to 45545 projection and max 46090 levels, after opening if bank nifty reaches to 45545 levels and face rest then there is a good chance that around this levels we may see some profit booking pull back which may again drag bank nifty down towards 45060 to 44750 levels so understand the importance of 45545 rest on intraday basis here.

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Finnifty will Rock

FINNIFTY View For: 04/12/2023
CMP: 20211
Moving AVG (EMA) 20 Hour & 40 Hour: 20174 & 20073
Moving AVG (EMA) 20 Day & 40 Day: 19851 & 19707
Support & Downside Range: 20070—19990--19900
Resistance & Upside Range: 20322—20380 zone, 20580
Short Term Trend Reversal Level: -- 19470
Trading View: In today's gap up trading session key level to watch is 20322—20380 rest zone after opening if this rest manage to hold then immediate basis we may see some profit booking pull bck to come in fin nifty which can drag it downside till minimum 20070 to 19990 levels whereas if 20380 breaks and we get 30 mins to 1hr sustain above it then intraday move gets extend till 20580 levels so understand the importance of 20380 rest intraday basis and act accordingly.

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