#Nifty
For 21-05-2020
Support for Nifty comes at 9011-8960-8900
Resistance for Nifty comes at 9095-9158-9200
BankNifty
Support for BankNifty comes at 17650-17400-17140
Resistance for BankNifty comes at 18000-18175-18500
Nifty yesterday mentioned that FIIs went long. And that was visible today. My sell levels were 9000-9030 with a SL of 9100 for intraday. The stop loss didn't triggered but as it was intraday trade you need to close at the end. So we booked our loss.
For positional sell stop loss is 9200 and that trade is still active.
As we close above 9050 first hurdle so tomorrow will be watchful. If Nifty drfends 9050-9000 levels till mid-day, then another round of buying can take it to 9200. Now fresh sell only below 8900, else my short trade is active.
BankNifty for the day second resistance was 18000 and it made a high of 18002. Power of technicals. BankNifty as mentioned in 18-May report has strong support in the range of 17500-17300 and that support is still holding.
Our sell levels in BankNifty were 18000-18300 and from high of 18000 it gave 275 points in just 20 minutes.
For tomorrow again it is a sell around 18000-18200 with a SL of 18500 for the target of 17700-17500.
BankNifty break down level was 18900 so it needs to cross that to be positive.
For 21-05-2020
Support for Nifty comes at 9011-8960-8900
Resistance for Nifty comes at 9095-9158-9200
BankNifty
Support for BankNifty comes at 17650-17400-17140
Resistance for BankNifty comes at 18000-18175-18500
Nifty yesterday mentioned that FIIs went long. And that was visible today. My sell levels were 9000-9030 with a SL of 9100 for intraday. The stop loss didn't triggered but as it was intraday trade you need to close at the end. So we booked our loss.
For positional sell stop loss is 9200 and that trade is still active.
As we close above 9050 first hurdle so tomorrow will be watchful. If Nifty drfends 9050-9000 levels till mid-day, then another round of buying can take it to 9200. Now fresh sell only below 8900, else my short trade is active.
BankNifty for the day second resistance was 18000 and it made a high of 18002. Power of technicals. BankNifty as mentioned in 18-May report has strong support in the range of 17500-17300 and that support is still holding.
Our sell levels in BankNifty were 18000-18300 and from high of 18000 it gave 275 points in just 20 minutes.
For tomorrow again it is a sell around 18000-18200 with a SL of 18500 for the target of 17700-17500.
BankNifty break down level was 18900 so it needs to cross that to be positive.
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