#Nifty
For 08-04-2019
Support for Nifty comes at 11630-11597-11540
Resistance for Nifty comes at 11717-11761-11808
BankNifty
Support for BankNifty comes at 29960-29809-29522
Resistance for BankNifty comes at 30100-30250-30646
Nifty bounced back again and bears are dead again. Coming to technicals Nifty today touched the 61.8% retracment of fall from 11761 to 11559. So if Nifty manages to move above 11695 we can see another up move to atleast previous high of 11761 or may be even higher to 11808-11830.
On extreme short term charts of 5 minutes Nifty has break out of a bullish head and shoulder pattern , targets of which is also around 11760. However below 11630 that pattern will be negated and below 11600 Nifty will resume its down move. Let's see what is in store.
Disclosure: I do not have any psoition in Nifty or BankNifty Futures , but today bought some puts of Nifty.
For 08-04-2019
Support for Nifty comes at 11630-11597-11540
Resistance for Nifty comes at 11717-11761-11808
BankNifty
Support for BankNifty comes at 29960-29809-29522
Resistance for BankNifty comes at 30100-30250-30646
Nifty bounced back again and bears are dead again. Coming to technicals Nifty today touched the 61.8% retracment of fall from 11761 to 11559. So if Nifty manages to move above 11695 we can see another up move to atleast previous high of 11761 or may be even higher to 11808-11830.
On extreme short term charts of 5 minutes Nifty has break out of a bullish head and shoulder pattern , targets of which is also around 11760. However below 11630 that pattern will be negated and below 11600 Nifty will resume its down move. Let's see what is in store.
Disclosure: I do not have any psoition in Nifty or BankNifty Futures , but today bought some puts of Nifty.
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