How to Trade Nifty today?

Today market is likely to remain range bound with slight upmove initially. We will be long in a big way only when market sustain above 18000 level. If Nifty breaks 17650 means we can again fall till 17200 level. Check our Nifty option tips and make money on a daily basis.

The Markets are trading in a tight range between 17650 to 17800. This 150 point range is too narrow to sustain. Every contraction leads to an expansion. So, Ideally we have to wait for the markets to break this range for a swing or trend trade.

Nifty. Support is placed at 17700 and then at 17650. Do not expect it to break it. Resistance is placed at 17800 and 17850.

BankNifty. Support is placed at 41000 and resistance at 41800. This range need to break else option sellers will have a field day.

Derivative. Data is weak, in Index futures as well as options. Hence, gap up of 90 odd points as per SgX looks dubious to us as it is not able to show clear trend and just mirrors global trend.

Update

Ambujacement CMP 392 downside 380 is now big big bahubali support till its trading above 380 it can do upside 415/430 and if it goes below 380 then we might see some profit booking and RSI cooling down move in it for next 1 or 2days.

Nifty live update cmp 17725 now its weak only if it slips below 17650 else consider at today's low sideways correction done and we may head higher upside towards 17850—17915 spot levels gradually in a day or two.. below 17650 bias goes massive sideways and pattern turns into very complex.

Banknifty live update cmp 41400 now its weak and goes sideways if it moves below 41095 spot levels if not then in a day or two it should touch upside 42000ish as first upside projection.

Banknifty live update cmp 41616 a break and sustain above 41780 spot levels it opens for next level 42195 and a daily close above 42195 we may see next level till 42885—43100 now this entire projection fails only and only if bank nifty goes below 41095 spot levels and in such case it goes sideways to more reangebound complex correction

Do remember to check our bank Nifty option tips and make money as a daily routine.

Adani has paid money to the lenders ahead of scheduled time plan which will bring good positive buoyancy in stocks for short period (feel good factor)