As we had written yesterday nifty took support exactly at 4993 and moved up violently from there.
Even two lots of nifty would have fetched the reader in excess of 15000 rupees.
Nifty
Tommorow nifty future should find support at around 5115 levels. If 5115 is held nifty future will move up to 5200 - 5225.
5225 should offer resistance for nifty. If it trades above 5225 with volumes, nifty future may even move to 5290 and 5310.
On the downside, nifty future should not break 5072. Breaking and trading below 5072 nifty future will move to
5030 , 4990 and 4970.
Trading the BankNifty
updated at 9.15 am..STERLITE trading idea
STER looks like a good swing trade.
For cash traders, buy ster on retracement to 823 with stop loss at 807 for target 900.
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.
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