#Nifty
For 06-05-2020
Support for Nifty comes at 9173-9000-8934
Resistance for Nifty comes at 9267-9330-9400
BankNifty
Support for BankNifty comes at 19066-18703-18300
Resistance for BankNifty comes at 19567-19772-20000
Nifty all rallies to 9400-9450 were sell and fortunately we got a big rally to sell.
Nifty today break down below a bearish wedge which it was forming since 20 March. Targets of this break down are 8900-8500-8200-7800.
But tomorrow if there is a relief rally to 9300-9330 that can again be used to sell with SL of 9440. Targets here can be 9200-9000 in next 2 days. Sell either on rallies to 9300 or break below 9173 for target of 9000.
BankNifty also was sell on rallies.
Now it is fast approaching to its targets of 18000-17000.
For tomorrow all rallies to 19500-19700 can be used to sell with stop loss of 20000. It can move to 19000-18700 very soon.
For 06-05-2020
Support for Nifty comes at 9173-9000-8934
Resistance for Nifty comes at 9267-9330-9400
BankNifty
Support for BankNifty comes at 19066-18703-18300
Resistance for BankNifty comes at 19567-19772-20000
Nifty all rallies to 9400-9450 were sell and fortunately we got a big rally to sell.
Nifty today break down below a bearish wedge which it was forming since 20 March. Targets of this break down are 8900-8500-8200-7800.
But tomorrow if there is a relief rally to 9300-9330 that can again be used to sell with SL of 9440. Targets here can be 9200-9000 in next 2 days. Sell either on rallies to 9300 or break below 9173 for target of 9000.
BankNifty also was sell on rallies.
Now it is fast approaching to its targets of 18000-17000.
For tomorrow all rallies to 19500-19700 can be used to sell with stop loss of 20000. It can move to 19000-18700 very soon.
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