RECAP
Many readers have mailed in to ask why the blog was not updated today.
Well, just have a look at weekly outlook of nifty and Bank Nifty.
Both followed what we had written like actors following a script.
NIFTY
5175 will act as strong support for nifty future tomorrow.
If bulls decide to keep up the momentum they have created today, first signs of it will come when nifty crosses and trades above 5258.
Doing so, nifty future will move to 5280, 5300 and 5320.
Only trading below 5162 will make nifty make and drag nifty down to 5140, 5120 and 5100.
Note that RIL's 200 dma is placed around 1077 and it would take a lot of effort from other index stocks for sustaining the momentum
created by bulls today.
BANK NIFTY
As written in the weekly view, BNF fortunes will largely depend on if it trades above 9125.
Trading above 9125 with volumes, BNF will move to 9160, 9185 and 9215.
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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