#Nifty
For 20-05-2020
Support for Nifty comes at 8806-8754-8700
Resistance for Nifty comes at 8933-8978-9050
BankNifty
Support for BankNifty comes at 17390-17140-17000
Resistance for BankNifty comes at 17750-18000-18300
Nifty as expected we saw a bounce. And all rallies to 9000 were sell with SL of 9050 and after making a high of 9030 it made a low of 8855. So good 100+ points in intraday.
Nifty today end at low point of day but what I observed that in last hour there was some buying. Nifty was not going much below its morning low of 8866. So some one was buying today. This is visible in today's FIIs data. They closed their shorts in index and stocks and added longs.
So for tomorrow we will stay on side lines and wait for 9000-9030 levels for positional sell with SL of 9200 for targets of 8800-8500-8200.
For intraday SL willl be 9100 and target will be 8900-8850.
BankNifty as expected opened at 18000 and after morning pullback tried a bounce to 18175. Our sell levels were 18300-18500 so no sell triggered there. Below 17500 also it reversed from 17390 so sellers were absent there also.
Today BankNifty made a lower low as compared to yesterday and even closed at lower.
For tomorrow BankNifty will be sell either at 18000-18300 with SL of 18400 for target of 17500-17400. Or we will sell below 17100 for positional with target of 16000-15000 and SL will be 17700.
For 20-05-2020
Support for Nifty comes at 8806-8754-8700
Resistance for Nifty comes at 8933-8978-9050
BankNifty
Support for BankNifty comes at 17390-17140-17000
Resistance for BankNifty comes at 17750-18000-18300
Nifty as expected we saw a bounce. And all rallies to 9000 were sell with SL of 9050 and after making a high of 9030 it made a low of 8855. So good 100+ points in intraday.
Nifty today end at low point of day but what I observed that in last hour there was some buying. Nifty was not going much below its morning low of 8866. So some one was buying today. This is visible in today's FIIs data. They closed their shorts in index and stocks and added longs.
So for tomorrow we will stay on side lines and wait for 9000-9030 levels for positional sell with SL of 9200 for targets of 8800-8500-8200.
For intraday SL willl be 9100 and target will be 8900-8850.
BankNifty as expected opened at 18000 and after morning pullback tried a bounce to 18175. Our sell levels were 18300-18500 so no sell triggered there. Below 17500 also it reversed from 17390 so sellers were absent there also.
Today BankNifty made a lower low as compared to yesterday and even closed at lower.
For tomorrow BankNifty will be sell either at 18000-18300 with SL of 18400 for target of 17500-17400. Or we will sell below 17100 for positional with target of 16000-15000 and SL will be 17700.
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