Nifty short term RSI breaks trendline. Bulls not in mood to give up 5100 without fight.
As a result intraday volatlity is at its peak. Today we had to trade 3 times to make a tiny profit.
For tomorrow level of 5157 is significant for bulls. If nifty future trades above 5157 with volumes
it will move to 5190, 5220.
Today's low of 5090 should act as support in nifty future tomorrow. If 5090 is not held nifty future will move to 5055 and 5025.
Trading the Bank Nifty
BNF could not trade above pivot level of 9150 (high made 9148) and crashed to S2 level.
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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