#Nifty
For 04-06-2020
Support for Nifty comes at 10035-9964-9912
Resistance for Nifty comes at 10100-10176-10220
BankNifty
Support for BankNifty comes at 20822-20747-20518
Resistance for BankNifty comes at 21200-21328-21619-21960
Nifty was supposed to stall near 10150 and it stalled after making a high of 10176.
Now we need some pull back to 10000-9950 for fresh buying the SL on that trade should be 9900. Nifty still may have some steam left. As FIIs are still not giving up. Nifty may retest 10176 and even 10200 tommow. Stop loss as mentioned is 9900. Buying at 10100+ is not advisable.
BankNifty I was expecting reversal around 21300 and till 1:30 it had not crossed 21300 but then due to sudden short covering it went to 21600 and then reversed.
For tomorrow it also has potential to retest 21500 and even can go to 21900. But that will be the top of this rally. From tomorrow High it should correct substantially may be near to 20500-19900. So no buying.
Yesterday I suggested two stocks Axis bank and ICICI bank. Axis after opening 12 points higher from Tuesday close still have another 10 points before reversal and ICICI bank gave 17 points.
For 04-06-2020
Support for Nifty comes at 10035-9964-9912
Resistance for Nifty comes at 10100-10176-10220
BankNifty
Support for BankNifty comes at 20822-20747-20518
Resistance for BankNifty comes at 21200-21328-21619-21960
Nifty was supposed to stall near 10150 and it stalled after making a high of 10176.
Now we need some pull back to 10000-9950 for fresh buying the SL on that trade should be 9900. Nifty still may have some steam left. As FIIs are still not giving up. Nifty may retest 10176 and even 10200 tommow. Stop loss as mentioned is 9900. Buying at 10100+ is not advisable.
BankNifty I was expecting reversal around 21300 and till 1:30 it had not crossed 21300 but then due to sudden short covering it went to 21600 and then reversed.
For tomorrow it also has potential to retest 21500 and even can go to 21900. But that will be the top of this rally. From tomorrow High it should correct substantially may be near to 20500-19900. So no buying.
Yesterday I suggested two stocks Axis bank and ICICI bank. Axis after opening 12 points higher from Tuesday close still have another 10 points before reversal and ICICI bank gave 17 points.
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