INTRADAY SHARE NIFTY TRADING:
At the end of the week nifty was in some volatile range bound situation. And it closes flat to positively. Now the important level to watch out for today intraday session resistance is 5350-5414 and support is 5201-5180 and ms is 5160.
However as the event day, there is no as such any support and resistance level, so better to trade in option strategy or wait and watch the budget proposal and then according to take position. -
In Case Budget Proposal - Positive :
Nifty Target 5480-5660-5750
In Case Budget Proposal -Negative :
Nifty Target -5175-5136-4786-4500
Trend decider of this Week - 5335
Resistance - 5476-5648
Support - 5182-5061
In this week a Budget event so high class of volatility in the market on Budget day as well as thereafter market will take a clear trend. Now we may consider resistance in near term 17813 and crossover will move further and may test 18150-18200, thereafter it will test 18500-18690 mark.
In flip side lower level, may consider support 17295 and any bad news in Budget proposal may selling intensify and indices may test 17060, thereafter 16650 in near term.
Trend Decider of this week : 17876
Resistance - 18864-18283
Support - 17295-16888
CNX BANK NIFTY
At the end of the week Bank Nifty was showing some strength and it recover 2% and above. Now the important level to watch out for today intraday session resistance is 10520-10750 and support is 10169 and MS is 10000 it is very crucial level below that we can see more down side 9905 level.
Trend Decider of this week: 10558
Resistance - 10948-11460
Support - 10046-9657
Today support 950-940 range and resistance 1000-1010 above only sharp move. Reversal to sell side.
Any long should be protected with tight stop loss 180.. above 186 hold with volume, do not remains short in this counter.
On rise it will face resistance 2265-2675 range, reversal to sell side.. down side last and final support exit 2500... thereafter....
Below 550 bear favour......any move it will face resistance 467-490-510 and selling opportunity, down side target 410- 350 in near term.
Decline to best buy.......for immediate return... Best stock for Budget.. without infrastructure there is no growth in India.....Accumulate on every decline. Now support is 130 mark.
Big problem in this counter and on Friday trading broken strong support level 89-90 range with volume and closed below..... Today below 85 may test 82-80-78 mark. Rising on selling strategy.