Of all the noise, SgX is up by 50 points. Too many it would be surprising and to many, it would be a continuation of the trend. Overall financial markets are in risk-on mode and I expect it to continue for the time being.
Even global politics is at crossroads markets are not falling, it shows out strength. There are 2 ways to play this rally....
Bank nifty tip
1. Either you exit stocks where you were stuck for the last 1 year or so. The other more sensible approach is to forget what has happened in the past and participate in the present.
Nifty. We are near the intermediate resistance levels on Nifty at 17400. It needs to break out for the markets to go higher. Support is placed at 17250 and resistance at 17380 and then 17500.
BankNifty. The Index on a mission. मै रुकेगा नही। Clearly the leader of the markets and is running towards 38500 and then 38800 levels. Supportnis placed at 37750.
Derivative. This is a dangerous place as of now. Data on Friday was super bullish, data yesterday was highly bearish. The only saving grace being the futures point of concentration which is relatively higher.
Caution is advised for the day and does remember to check our Bank Nifty tip to make money on a daily basis.
Last but not the least, if my work has helped you in any way, please do share your kind words.
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