Today Nifty future took support at 10092 and again moved up to clinch a high of 10179 before closing at 10146, 6 points below previous day close.
Bank Nifty Future saw a dip of 10980 and made a swift move to touch 10280 before a close at 25246, very near to previous day close of 25242.
In nutshell, further fall in the indices has been arrested and some steadiness is seen which is a positive sign before RBI Policy.
We expect the market to be range bound tomorrow.
Nifty future range - 10091-10180 and Bank nifty future range 25085-25375.
If NF close above 10225 on a daily close basis, it indicates reversal of trend. Exit all your shorts. Similarly if BNF closes on a daily basis above 25330, then we may see an impulsive move.
One can expect a short term up trend in nifty up to 10425 and in BNF up to 25875 before we get in to Gujarat Election jitters.
Happy Trading!
Bank Nifty Future saw a dip of 10980 and made a swift move to touch 10280 before a close at 25246, very near to previous day close of 25242.
In nutshell, further fall in the indices has been arrested and some steadiness is seen which is a positive sign before RBI Policy.
We expect the market to be range bound tomorrow.
Nifty future range - 10091-10180 and Bank nifty future range 25085-25375.
If NF close above 10225 on a daily close basis, it indicates reversal of trend. Exit all your shorts. Similarly if BNF closes on a daily basis above 25330, then we may see an impulsive move.
One can expect a short term up trend in nifty up to 10425 and in BNF up to 25875 before we get in to Gujarat Election jitters.
Happy Trading!
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