The bears have given up the grip and the bulls started gathering momentum for yet another attempt to get on to a swift rally towards 10735 level.
Remember this number has significance. This was the low formed on 2nd, the weekly close on Friday. If this number is broken, then it means bulls have captured the fort. No more day dreaming about vertical or horizontal fall of index. You don't have to be a technocrat. Go by numbers. Obey them.
The rally towards the above number will be very fast and all shorts will have to pay heavily.
Yesterday close of Nifty and Bank Nifty negates down trend and serious threats. On positive global cues, Nifty is likely to move ahead.
Range till the end of this Friday:
Nifty future 10485-10735
Bank Nifty Future 25550-26200
Strike prices for positional trades in nifty and bank nifty for trade only for members on board.
Happy Trading!
The picture will tell you the event likely for the remaining part of the week.
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