MARKET TREND 16/10/2017

Few things to cheer about market today was that 

• It opened gap up and maintained the up trend.
• It closed above the previous high of 10189.
• There is still some more steam left for a rally of 100 -120 points next week
• Diwali celebration has started with a rocket launch by Nifty and BNF

Levels to be noted for next week are

Nifty Future : Keep 10117 as SL and go long in market. Buy  10200 CE at market price and exit when NF reaches 10330-50 level. 

For bank Nifty Future keep 24475 as SL and go for 25000 CE month end expiry and exit when BNF reaches 25200.

Alert: Number of trading days are very less. Only 7 trading sessions excluding Muhurat trading. Exercise caution in booking profits and maintaining SL while trading.

Risk is high. But reward is also equally high. 

Diwali celebrations have already begun for us!