Not the day to initiate fresh long positions after an expected gap up of 150 points. We are not a big fan of gap up or gap down days. We hope for another volatile day which will give trading opportunities to sellers also.
We would be booking some trading profits as we don't want to go with trading positions for the event tommorrow. US FED will increase interest rates which can be 1 to 0.75 basis points which will induce sharp volatility.
Nifty. Nifty reversed from our level of 17450 yesterday but can give wild swings today. Support is placed at 17550 and resistance at 17860.
We would be booking some trading profits as we don't want to go with trading positions for the event tommorrow. US FED will increase interest rates which can be 1 to 0.75 basis points which will induce sharp volatility.
Nifty. Nifty reversed from our level of 17450 yesterday but can give wild swings today. Support is placed at 17550 and resistance at 17860.
Bank Nifty Tip
BankNifty. It is respecting trading lows of 40500 which is a highly bullish indicator. For the day, after the gap up it won't be the level to go long but to book profits on longs and wait. Support for the day is placed at 40500 and resistance at 41450.
BankNifty. It is respecting trading lows of 40500 which is a highly bullish indicator. For the day, after the gap up it won't be the level to go long but to book profits on longs and wait. Support for the day is placed at 40500 and resistance at 41450.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
