NIFTY FUTURE
Finally nifty has broken 8300 level buy did not given closing above the level, nifty has a very strong resistance above 8300 level so we can short it from CMP for 8180 level our stop loss would be 8380 which is another resistance level for nifty.
Call: SHORT
CMP: 8295.45
Initiation Level: CMP
Book Profit (Level 1): 8250
Book Profit (Level 2): 8180
Stop Loss: 8380
Conviction Level; moderate risk
Reason: RECOVERY
Short term Trend: Recovery
Medium Term Trend: DOWN
For the investor: SELL ON HIGH
For Aggressive Traders: SELL ON RISE AND BUY ON DEEP
Support: 8200-8100
Resistance- 8380-8500
Duration: 1-3 Days
BANK NIFTY FUTURE
Bank nifty not looking as down as nifty but it is taking resistance from 18000 level which is an important resistance if bank nifty will give closing above 18000 then it will be a positive single for buying, until it is not giving closing above 18000 sell bank nifty for the targets of 17500 our stop loss will be 18202.
Stock: BANKNIFTY
Call SHORT
Initiation Level: 17900
Book Profit (Level 1): 17800
Book Profit (Level 2): 17600
Stop Loss: 17900
Reason: recovery
Short term Trend: recovery
Medium Term Trend: recovery
For the Investor: SELL ON HIGH
For Aggressive Traders: SELL ON RISE AND BUY ON DIPS
Support: 17400-17250
Duration: 1-3Days
STOCKS RECOMMENDATION FOR TOMORROW
- BUY AXIS ABOVE 525 TGT 535 SL 515.
- BUY ITC ABOVE 359 TGT 370 SL 353
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