As expected, Nifty futures turned positive on Thursday despite weakness in global Indices and now SGX Nifty is trading around 15958. Yesterday, we clearly indicated buying in Nifty futures above 15903 for the upside target of 15926—15961. It made a high of 15967.50 and finally settled around 15940. On the other hand, Bank Nifty too spurts and crossed 36000 levels but was not able to breach the resistance level of 36100 and finally settled around 36010.
Our buy call of Dhani hit the upper circuit…
Nifty Future; Last Close 15940
Decisive break and sustain above 15961 will take it to 15978—15998—16036 levels.
Three consecutive closes + weekly close above 16000 will take Nifty futures to 16800—17500+++ levels in days to come.
If break and close above 16000 then we will buy and accumulate Nifty futures in panic with stop loss below 15450 on a closing basis.
Nifty has intraday support at 15847. Decisive break and sustain below 15847 will take it to 15778—15758.
More and more downside panic we expect on a close below 15758 levels only.
Bank Nifty; Last close 36010
Bank Nifty has support at 35900 and resistance at 36100
Above 36100… target looks 36250—36400.
Three consecutive close+ weekly close above 36100 will take it to 39000—41500+++ levels in days to come.
Immediate support at 35900. Decisive break and sustain below 35900 will take it to 35750—35600—35450 levels.
Trade safely as per the levels given above. More we will update during market hours.
Trendy Stock- HDFCAMC
HDFCAMC formed a long bullish candle on the daily chart. It has support at 2850 and resistance at 3100.
Decisive break and close above 3100 will take it to 3550—3800 levels in days to come
Chances are bright that this stock will cross 5000 levels???
Traders can buy HDFCAMC above 3100 with stop loss below 2850 on a closing basis for the upside target of 3550—3800