Expiry week for a 5 week month is always volatile. It is clear, sell on rise. We can see another gap up which can be sold into. The market trade range is 16900 to 17130. Need to be careful in long trades. This is also year end, so NAV moves can also happen.
Nifty. 16900 is very important to hold. We can see a breakdown below this level. Above 17170, we can see a good short covering.
BankNifty. 39000 is a strong support to hold. 40000 should be the resistance for the day.
Sell on rise.
Enjoy the trading pic of the day which has an essence that buy when their is blood on the street.
Unless Nifty sustain above 17250, we will remain sell on rise.
Make money using our intraday bank nifty option tip on a daily basis.
Keep eye on Reliance because last Friday it broke 2255 and posted low of 2225 here and thus 2220 is going to be a crucial level to watch.
If Reliance closes below this level of 2220 then it can put more pressure on Nifty and if it does not closes below 2220 then Reliance may try to lift nifty again and may take it to safer zone by day end.
Plan long in ICICI Bank in positive mkt.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
