#Nifty
For 14-05-2019
Support for Nifty comes at 11089-11034-11000
Resistance for Nifty comes at 11220-11257-11300
BankNifty
Support for BankNifty comes at 28500-28350-28160
Resistance for BankNifty comes at 28778-28891-29000
In stock market always expect the unexpected. I was not expecting 11220 to break but that is the importance of Stop loss. Below 11220 nifty went down for another 100 points to 11125. I am keep looking for supports for a bounce. Below today's close next support comes around 11089-11034 and more or less we can test 11000.But Nifty on daily charts is oversold any time it is ready for a bounce. Now on upside resistance comes in the range of 11220-11300. So a bounce up to that level can be expected if at a tall Nifty decides to bounce.
Although i am not an expert but as per my little knowledge today after 11250 lots of stop lossed triggered and many margin calls have been triggered.
So if tomorrow also Nifty goes down that again could be opportunity to buy. Let's see whether i am right or not this time. Now stop loss for Nifty long trades comes at 11000, which should not be broken at least i am hoping so.
BankNifty which was positive on Friday also gave up today and below 29000 it was again bearish. Now it will turn positive only above 29000. Till 29000 is not crossed it is not a buy. But a bounce from current levels is always expected which can extend up to 28900-29000. For levels just check the last support level for BankNifty.
Disclosure: I do not hold any position in Nifty and BankNifty Futures.
For 14-05-2019
Support for Nifty comes at 11089-11034-11000
Resistance for Nifty comes at 11220-11257-11300
BankNifty
Support for BankNifty comes at 28500-28350-28160
Resistance for BankNifty comes at 28778-28891-29000
In stock market always expect the unexpected. I was not expecting 11220 to break but that is the importance of Stop loss. Below 11220 nifty went down for another 100 points to 11125. I am keep looking for supports for a bounce. Below today's close next support comes around 11089-11034 and more or less we can test 11000.But Nifty on daily charts is oversold any time it is ready for a bounce. Now on upside resistance comes in the range of 11220-11300. So a bounce up to that level can be expected if at a tall Nifty decides to bounce.
Although i am not an expert but as per my little knowledge today after 11250 lots of stop lossed triggered and many margin calls have been triggered.
So if tomorrow also Nifty goes down that again could be opportunity to buy. Let's see whether i am right or not this time. Now stop loss for Nifty long trades comes at 11000, which should not be broken at least i am hoping so.
BankNifty which was positive on Friday also gave up today and below 29000 it was again bearish. Now it will turn positive only above 29000. Till 29000 is not crossed it is not a buy. But a bounce from current levels is always expected which can extend up to 28900-29000. For levels just check the last support level for BankNifty.
Disclosure: I do not hold any position in Nifty and BankNifty Futures.
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