Minted money in our sell call of Nifty indices or not???
Yesterday, we clearly indicated to sell Nifty index futures below 15771 for the immediate downside target of 15709—15656. It made a low of 15693.05 and settled around 15732.
On the other hand, Bank Nifty index was too unable to sustain at higher levels in yesterday’s trading session and slipped.
Monthly expiry is on the way.. Trade safely
Nifty Futures; Last close 15732
Our Nifty 15800 PE… Skyrocketed from 65—120. Hope you all minted money in it.
Below 15690… it could test 15655—15625 and then to 15550.
Our positive view in Nifty negates on a close below 15300 levels only.
Traders should keep an eye on 15550—15300 levels.
Range bound trading continues in Nifty index and expect a bounce from lower levels again.
Buy on decline near to the support level 15625—15550 will be the best trading strategy for the day.
Bank Nifty; Last close 34824.90
Bank Nifty indices has support at 34700—34400 and resistance at 35200
Decisive break and sustain above 35200 will take it to 35500—35600
Best selling opportunity may arise in the range of 35500—35600 with stop loss above 36100 on a closing basis for the downside target of 34700—34400 and then to 33900 levels.
More and more downside panic we will see on a close below 33900 levels.
Trade safely as per the levels given above. More we will update during market hours.
Pharma stocks turn negative… Don’t jump to buy stocks like Drreddy, Lupin, Cipla.
Below 659… Be ready for a sharp downside fall till 642—635.
Sell on the rise around 671—674.
Stop-loss above 690 on a closing basis.
Below 1593… Sell it with stop loss above 1610
Downside target looks 1578—1566
Chances are bright for a sharp gain of 10—12% in the next 1—2 trading sessions.
Stop loss below 130.00