Nifty futures have opened with 100 points gap up and it was technically an expected bounce. All news like Moody etc., are just stories. Technically market has to bounce and it did. No big wonder for us. But as indicated earlier, the close is below 10343 which does not augur well for bulls as well as bears. Because now Nifty is in No trade Zone. It is likely that the market may make a halt and move sideways between 10200-300 during next week.
Bank Nifty today has outperformed and has finished its monthly target. Please see my earlier post on November levels posted on 1st Nov 2017. Bank Nifty is also likely to move sideways and 26500 target seem to be unlikely till the end of this month. When it will happen? I will reveal the date later but it is not anyway in the offing immediately.
Bank Nifty Spot if slips 25700 will lead to 25500/25350. Only a close below 25150 will lead to 25000/24800. That is more unlikely to happen.
Nifty is weak only if it closes below 10100. We are away from that level by 180 points. A close above 10343 is bullish.
Hope next week brings one more trade opportunity to double our investment. My followers are making merry on this week end!
No comments:
Post a Comment
Note: only a member of this blog may post a comment.