Indices are likely to open gap up in today’s trading session. It’s time to book partial profit in Nifty.
Below 15705… Our downside target was 15670—15640—15550.
It made a low of 15586 and settled around 15637.20. Bank Nifty too slipped and achieved our downside target very well.
On Tuesday as well as in our weekly report… We clearly indicated to buy Nifty futures indices around 15650 levels.
SGX is now trading around 15750.
Nifty future; Last Close 15637.20
Nifty future indices has a resistance range of 15762—15788.
Decisive break and sustain above 15788 will see more upside rally till 15841—15882 and then to 15970 levels in days to come.
Again a big question mark… Will it break 16000 levels???
Trading range 15500—16000. Either side break or close with volume will decide further.
Till then trade within a range and wait for confirmation.
Traders holding long in Nifty futures as per our level can enjoy profit at the opening bell.
Bank Nifty Futures; Last close 34487.10
Bank Nifty futures indices too crashed below 34900 and finally settled around 34487.10.
Bank Nifty futures has support at 34400—34000 and resistance at 35000—35500—36100
For the next few trading sessions… Expect range-bound trading in Bank Nifty futures.
Buy on dips and sell on the rise will be the best trading strategy for traders and investors.
Trendy Stock- Gujrat Gas
Buy around 705—702 with stop loss below 670 for the upside target of 750+++