#Nifty
For 15-06-2020
Support for Nifty comes at 9926-9878-9800
Resistance for Nifty comes at 10021-10080-10150
BankNifty
Support for BankNifty comes at 20500-20350-20000
Resistance for BankNifty comes at 20750-20924-21244
Nifty wild swing on Friday. On Thursday it broke the positional long SL of 9900 and on Friday it achieved the target 9700-9600 of break down with a huge gap down. Which was immediately bought and it is now again above 9900.
For Monday Nifty might spend some time in the range of 9900-10050. Below 9900 it may go down to 9800 and above 10050 it may gap up to 10150.
Risky traders can take a short trade around 10000 with a small SL of 10070.
Fiis who were on the long side at the start of this month are now shifting to short side. So be cautious in long trades. Keep a strict SL of 9900. In next couple of weeks we may revisit the levels of 9700-9500.
Above 10150 that possibility will end.
BankNifty as expected correction ends around 19500 and made a low of 19580.
BankNifty recovered more than 1000 points from day's low.
For tomorrow till BankNifty trading below 21000 it may correct again to 20300. Only below 20300 it will become more weak and can come to 20000-19800.
BankNifty should be avoided next week as two Supreme court hearings due which can make BankNifty very volatile.
BankNifty recovered more than 1000 points from day's low.
For tomorrow till BankNifty trading below 21000 it may correct again to 20300. Only below 20300 it will become more weak and can come to 20000-19800.
BankNifty should be avoided next week as two Supreme court hearings due which can make BankNifty very volatile.
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