#Nifty
For 03-04-2019
Support for Nifty comes at 11690-11650-11605
Resistance for Nifty comes at 11760-11800
BankNifty
Support for BankNifty comes at 30252-30040-29816
Resistance for BankNifty comes at 30430-30646-30800
Nifty is doing as per the liquidity and not as per the technicals. You have to redraw again and again your technical tools. But as said yesterday buy on dips only who did it today must be rewarded well. Nifty on hourly charts is moving in an extremely narrow channel. Top end of that channel comes around 11800-11820 and lower end comes at 11650.
A move below 11650-11644 will give the first sell signal which will be confirmed below 11600. Below 11600 a 100-150 points correction is possible. Nifty from last 3 days making doji patterns so a loss of momentum sign.
BankNifty which was villain from last 3 days, today turned into hero with the strong USDINR or a rate cut hope in RBI policy.
Disclosure: I do not have any position in Nifty and BankNifty Futures.
For 03-04-2019
Support for Nifty comes at 11690-11650-11605
Resistance for Nifty comes at 11760-11800
BankNifty
Support for BankNifty comes at 30252-30040-29816
Resistance for BankNifty comes at 30430-30646-30800
Nifty is doing as per the liquidity and not as per the technicals. You have to redraw again and again your technical tools. But as said yesterday buy on dips only who did it today must be rewarded well. Nifty on hourly charts is moving in an extremely narrow channel. Top end of that channel comes around 11800-11820 and lower end comes at 11650.
A move below 11650-11644 will give the first sell signal which will be confirmed below 11600. Below 11600 a 100-150 points correction is possible. Nifty from last 3 days making doji patterns so a loss of momentum sign.
BankNifty which was villain from last 3 days, today turned into hero with the strong USDINR or a rate cut hope in RBI policy.
Disclosure: I do not have any position in Nifty and BankNifty Futures.
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