Nifty likely to attempt today to surpass the ATH 12103. The resistance is seen at 12135-12199 range. Chasing the momentum is a high risk trade as the immediate support lies at 11950. For bank nifty too there is a chance of crossing the previous high of 31783 with a strong support at 31325. It is a high risk trade as hardly 2 days left for this expiry.
If everything goes well, we can expect 12199/32050 targets in this expiry which could be minimum targets and on the maximum nifty 12310/32100.
Good Luck!
PS: Nifty has strong support but the trading range is getting wider. You may witness a big downside also to wipe off the premium. Go by support and resistance instead of chasing the momentum blindly.
This is the third consecutive month where nifty moves 250-300 points in 3-4 trading sessions. Unless you go by levels and numbers to catch the move, you will be a simple spectator.
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