Market Context -
Sideways to Bullish. As expected and mentioned
yesterday that market can be sideways to bullish. Ultimately it did the same
and closed on positive side. Tomorrow again we can see a similar pattern.
Nifty50 –
Levels given yesterday
worked beautifully. Same levels will work for tomorrow as well. Any flat to a
bit gap up around 17100 levels can again give a long opportunity for the
targets 17200 which is a very good resistance as of now.
We can plan for downside
only if market goes below 17050 again and then we can see Nifty again at 17000
and 16950.
Chart for reference-
BankNifty-
Again Bank
Nifty was stronger compared to Nifty.
If there is
any big gap up, wait for BankNifty to settle for first half hour. 40000 is a
good resistance as well psychological level where we can see some sell on rise
kind of market. If market sustain at that level, then we can plan for long
trades upto 40300 and 40400.
Any flat
opening or gap down at levels of 39700, we can get a buying opportunity as
market has created some sort of support at this region.
Chart for reference-
Abbreviations
used in Chart-
PDH – Previous day High
PDL – Previous day Low
PWH – Previous Week High
PWL – Previous Week Low
PDC – Previous Day Close
NOTE: THIS BLOG IS ONLY FOR EDUCATIONAL
PURPOSE. TRADE WISELY.
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