At least we were able to break out of the range but closed near resistance levels. Let me make it clear for everyone, if the rally has to sustain, then we have to trade with some follow-up....Basically a tight consolidation. In case going back to below 15500, we are back in weak markets.
Today the markets will be in a range with a bias towards a positive move. Do not initiate fresh shorts till we break and hold 15480 and trade below it for some time.
Nifty. Support is placed at 15480 and resistance is at 15720. I expect Nifty to trade in this range only.
Bank Nifty. It broke out of 33000 levels and as mentioned yesterday gave a good 600-point trade. So the support is at 32850 and resistance is placed at 33900.
Derivative. Data formation is good but not good enough in comparison to the rally we saw. It is due to low volumes. Let us see the buildup and then react.
Put buyers - Do not expect big returns
Call buyers. - Hold with SL of 15480 Nifty.
Option sellers - Enjoy with me.
Make money using our bank nifty prediction on a daily basis.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
