#Nifty
For 18-06-2020
Support for Nifty comes at 9833-9780-9725
Resistance for Nifty comes at 9933-9985-10040
BankNifty
Support for BankNifty comes at 20115-19800-19500
Resistance for BankNifty comes at 20342-20530-20650
Nifty first trade of sell below 9860 failed as Nifty after making a low of 9833 hit the SL of 9920. But second trade to sell near 10000 gave 140 points.
For tomorrow before taking any trade we have to wait and see if Nifty can sustain above 10000 because this will trigger a massive short covering. Above 10000 it can go to 10070-10100-10150. Nifty sell should be done only below 9800 for target of 9725.
BankNifty first triggered the SL of long side below 20100. But sell on rallies to 20500 gave more than 300 points.
For tomorrow again all rallies to 20500-20600 can be used for sell with SL of 20800. But tomorrow my advice is to not to do short.
BankNifty can be bought near 19700-19500 with a SL of 19400.
Disclosure: I don't have any position in Nifty and Banknifty futures.
For 18-06-2020
Support for Nifty comes at 9833-9780-9725
Resistance for Nifty comes at 9933-9985-10040
BankNifty
Support for BankNifty comes at 20115-19800-19500
Resistance for BankNifty comes at 20342-20530-20650
Nifty first trade of sell below 9860 failed as Nifty after making a low of 9833 hit the SL of 9920. But second trade to sell near 10000 gave 140 points.
For tomorrow before taking any trade we have to wait and see if Nifty can sustain above 10000 because this will trigger a massive short covering. Above 10000 it can go to 10070-10100-10150. Nifty sell should be done only below 9800 for target of 9725.
BankNifty first triggered the SL of long side below 20100. But sell on rallies to 20500 gave more than 300 points.
For tomorrow again all rallies to 20500-20600 can be used for sell with SL of 20800. But tomorrow my advice is to not to do short.
BankNifty can be bought near 19700-19500 with a SL of 19400.
Disclosure: I don't have any position in Nifty and Banknifty futures.
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