A Big movement is still due in markets. With commodities falling, more pressure will be witnessed in markets. No one told you to short at 6150 except us, our last target of 5175 has already hit.
Only we told you to cover all shorts and also we did tell you Nifty will bottom out in the range of 5300-5400,whether this will become a permanent bottom for this year or major fall will happen in June ???
Intraday nifty stock market trading tips Last week being a expiry and roller coaster were saw but strong pull back from the level of 5330. Over all in short term weekly chart appears bullish pattern which is suggested that down side strong support 5300-5325 whereas the higher side resistance exit 5517 , decisively crossover and sta with volume it will move further and may test 5605-5650. Failure to move above 5500-5520 range, down ward bias again and likely lower level 5330-5225 in near term.
TODAY : Today we may consider support 5450-5430, resistance is 5500-5520, crossover and stay with volume over all buying the share market. Today Magic No. 5491.
Last week strong pull back were saw from the lower level 17786 and finally managed to closed above 18000 level. In this week we may consider resistance 18350-18400 rage, successfully crossover and stay with volume it will test 18690-19000, on down side if fail to stay above resistance level, lower level target 18000, thereafter over all down ward bias in the market which will go up previous 17786 then 17740-17400 in near term.
Today : BSE Index is open positively and showing some volatile session and strength in the market and close positively. And technically above 18298, it will face resistance 18298-18344-18410, down side support 18087 watch out. Today Magic No. 18317.
BANK NIFTY STOCK :
After SBI result being sell off resulted market entered in over sold, in weekly and daily chart, RSI and Stochastic are over sold position and resulted from the double bottom formation at 10350 and finally managed to closed above 10600 range. Over in short term and dip to buying opportunity as hold support level, higher level resistance 109000-11000 to be watch out. Watch retracement level - 10727-10966-11159 as hold support level 10350 range.
Today : . Bank Nifty opens positively and showing strength in the market and closed at 10648. Now we may consider support is 10610-10551, break and trade below further weakness, higher-level resistance 10710, thereafter over all buying in the market.