Nifty Price - Trading Levels which Make Money

Asian markets are mostly flat with a positive bias, except for the S&P Nifty that indicates a huge gap. The banking crisis in the U.S. seems to be over, as the FED will make sure that depositors donot lose money. Good news is that the GST collection data came out to be 1.87 lakh crore, which is a record high, and the government has cut the windfall tax on crude oil, which will be beneficial to Reliance, Vedanta etc. Please remember that the gap up may or may not sustain and thus correct strategy for the day is to take the profit and move out of the market. The resistance levels are expected to be crossed, and the strategy is to buy on dips. The markets are likely to be volatile, and the economic data looks good. Overall trend is positive. 

Nifty Spot View: 02/05/2023
Cmp: 18065
Support & Downside Range: 18001--17974
Resistance & Upside Range: 18121--18135—18190—18235--18280
Short Term Trend Reversal Level: -- 17885

Check our daily money making bank nifty option tips and start rolling in profit like pro traders.

Trading View: In today's trading session only one level to watch which is 17885 spot as long as we trade above this levels any dip is a good buying zone, here 18000—17974 will act as strong support and buying supply zone whereas upside 18121--18135 will act as immediate resistance zone break above this zone move gets extend.

Which stock will rule the day?

Reliance will lift Nifty to new heights due to its unlocking of wealth through Jio.

F&O Cues 

• Nifty May futures ended at 18,112.15, a premium of 120.40 points. 
• Nifty May futures rose 6.66% and 10,930 shares in Open Interest. 
• Nifty Bank May futures ended at 43,230, a premium of 217.85 points. 
• Nifty Bank May futures rose 3.82% and 3,369 shares in Open Interest. 
• Securities added to the ban period: 
• Nil Securities removed from the ban period: Nil