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We got the perfect levels yesterday but today is a new day. After a correction of the last few days, we should expect dome pullback but make no mistake, that will also be sold into.
Trading is about the trend not the levels. As a trader, you should know your stoploss before initiating the trade but do not be rigid on targets. Book profits as and when you have a chance. Do remember to check our best Bank Nifty option tips to make money on a daily basis.
Nifty. Strong support at 16970 and resistance at 17250. Clear sell on rise.
BankNifty. Support at 38500 and stiff resistance at 39200.
Derivative. Data is weak and any pullback will be used to sell. Nearly 3.8lac put longs indicate sell on rise.
