NIFTY TREND FOR APRIL 2018

Nifty trend for the next month is as below:

Nifty futures closed at 10115, 150 points above the month low and 370 points below previous month expiry close. These are very much required to know and confirm up to which level nifty cannot travel. Now we have a confirmation that nifty travel to 10385 looks difficult. Next step is to identify the resistances which it might face during upward journey. These are 10232 & 10290. On the lower side 10052 and 9960  are major support levels. 

Coming to Bank Nifty it closed at 24263, 600 points above month low of 23631 and 700 points below previous month expiry close. Since the main index Nifty has more bias towards down side, BNF will be dragged down to levels below 23500. The immediate  resistance is 24600. On the downside 24000 and 23630 are  support levels.

Be prepared for a bearish phase in April where  both Nifty and Bank Nifty will undergo more selling pressure. Bears have already dragged nifty to 4 digit level and there could be more bottom to come. 

Now to conclude, the bias towards down side is more. 

What is the likely bottom for nifty and bank nifty and where it will reverse? Information circulated to members only.

With these guidelines you will  never pick  a wrong trade. Still if you need my assistance do email me: narayanansrirangam@gmail.com