#Nifty
For 03-08-2020
Support for Nifty comes at 11008-10933-10860
Resistance for Nifty comes at 11100-11142-11200
BankNifty
Support for BankNifty comes at 21500-21375-21170
Resistance for BankNifty comes at 21700-21860-22100
Nifty was buy on dips to 11100-11050. Morning dip to 11049 gave 11150 and second dip gave 50 points to 11100 without hitting SL of 11020. Not a bad day. But very very volatile.
For Monday 11000 is important support zone. Below 11000 Nifty can slide to 10933-10860. But if it manages to hold 11000 then we can see a pullback again to 11100. So Nifty can be bought near 11000 with SL of 10970 for target of 11050-11100. But preferred trade will be sell on rise to 11100-11120 with a SL of 11160 for target of 11050-11000. On higher side Nifty now will face resistance in the range of 11100-11200. So we need a close above 11200 for fresh positional buy.
BankNifty was buy near 21600-21800 with a SL of 21450 which was triggered in first five minutes. So I actually had not taken any trade. But if someone then it is SL triggered.
For Monday we will have to wait for at least 15 minutes before taking any trade. As BankNifty again saved the 21600 on closing basis. But on Monday if it breaks 21600-21500 it will be sell with SL of 21800 for target of 21300-21170-21000. BankNifty fresh positional buy only close above 22100.
Disclosure: I don't have any position in Nifty and Banknifty futures.
Comments
Post a Comment