NIFTY SPOT : 8121.45
Hi,
Readers,
Nifty went up
last week mainly on account of short covering. Now resistance levels for Nifty
are 8150-8220-8279. And support at 8050-7950-7862.
Till the time
Nifty is in trading range of 8150-8050 there will be no positional trading
opportunity in Nifty. Breakout on either side of the range will give trading
opportunity with small stop loss of 30 points. But remember that, if range
breakout comes on upside in first half of the week then, it will not be a bad
idea for non professional traders to leave that
upside breakout. Because the chances of if being short lived/false are more.
Bank Nifty is
ready for a good move either side. And since it has good weight in Nifty thus
it shall determine the movement of Nifty in coming days.
We also have
expiry in this week thus expect volatile moves in Nifty.
No comments:
Post a Comment