Nifty managed to surpass the initial hurdle of 12222 and closed above 12274 which was the week opening figure forming a thick green candle signalling readiness for a fresh high. I have clearly indicated to my members yesterday that above 12222, nifty likely to move up to 12274. That's what happened. Next halt for nifty could be anywhere between 12426-452. Now 12158 acts as a strong support and any correction is possible only if 12158 is broken.
Bank Nifty too has displayed the bullishness but not as strong as Nifty. 32050 is the support and SL for BN for those who wish to be long in futures. Target for BN is 33055.
You must remember one important point. Whatever trend nifty indicates in the beginning of the month the same setup prevails till expiry.
The key numbers for nifty on the upper side is 12426. 12158 on the downside and a breakdown of 12158 leads to 11885. Be with the trend.
DO NOT BE PESSIMISTIC ABOUT MARKET.
Options pick suggestion for members on board.
Good Luck!
ஊழ் - Fate
பேதைப் படுக்கும் இழவூழ் அறிவகற்றும்
ஆகலூ ழுற்றக் கடை. # 372
மு.வ : பொருள் இழந்தற்கு காரணமான ஊழ், பேதை யாக்கும். பொருள் ஆவதற்க்கு காரணமான ஊழ் அறிவைப் பெருக்கும்.
The fate that loss ordains makes wise men's wisdom foolishness;
The fate that gain bestows with ampler powers will wisdom bless.
An adverse fate produces folly, and a prosperous fate produces enlarged knowledge.
.
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