On Monday Nifty Touched 10821 and from there we saw a quick recovery and closed +70 points at the end of the day. The low recorded on Monday could be the weekly / monthly support level for nifty. Shorts can be created only if nifty breaches 10820 on a daily close basis.
Index has turned green after a month and the up trend is likely tot remain for few sessions. Nifty is expected to touch 11139 and bank nifty 25500/700.
The overall bearish trend still remain intact. This up move is a temporary pull back.
Both the index likely to have limited move and remain direction less till RBI policy is out.
Clue for trade. Pick 111000 CE around 100 SL 96 for quick doubling.
Happy Trading!
No comments:
Post a Comment
Note: only a member of this blog may post a comment.