Expiry day trade started with a big gap up and it was giving all hopes to bulls, but at the end of the day it was finally a trap as Nifty surrendered all the gains made during the day.
Bank Nifty Future however did not budge much and looks to follow Nifty later if the results of key banks are not in line.
As a whole the market is likely to take halt after mammoth rally. The fresh rally may start after a small break.
ITS CORRECTION TIME NOW
Short Nifty and Bank nifty at appropriate levels and enter in to the market when the reversal takes place.
If BNF breaches 24940 for 15 minutes, you can see a downfall unto 24800. If that is also breached then next support is at 24615. Final support is at 24515.
Nifty Futures Aug has already breached 10084 and closed at 10070. Next critical level is 10026 an if that is broken it may lead to 9983.
Happy Trading!
Excellent analysis Sir.I followed last one hour trade yesterday and found how the operators was busy with their unusual activities. Please tell us how it is possible to fall suddenly without a trigger!☺
ReplyDeleteNote down high and low of nearest strike prices of nifty and bank nifty futures. whenever the low is broken on call or put market reacts fast. your failure rate is 0% if you follow this. or if you find weekly or monthly low is broken and traded below the low it means mkt will move in the opposite direction. for example if a call low price of 25 is broken and trading at 20 or 18 it means mkt is ready for fall and vice versa
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