#Nifty
For 10-08-2020
Support for Nifty comes at 11170-11120-11064
Resistance for Nifty comes at 11256-11300-11341
BankNifty
Support for BankNifty comes at 21600-21451-21370
Resistance for BankNifty comes at 21860-22045-22118
Nifty as mentioned in my last post of 4th August was sell at 10930-10970 with SL of 11000, which triggered. After that there was no trade from my side.
For Monday Nifty is bullish till it holds 11120-11000. It can be bought on all dips to 11170-11150 with a SL of 11100 for targets of 11250-11300. But buying at 111250-11300 is not a good idea.
11350-11433 is resistance zone.
BankNifty in my 4th August post was having very good support at 21000-20880. And it was sell only below 20900, which hadn't happened. So no trade was there.
For Monday technically BankNifty is buy on all dips to 21600-21560 with a SL of 21500. But my preferred trade will be to buy BankNifty on close above 22000. So actually I won't do a long trade in BankNifty on Monday.
On the contrary if BankNifty slips below 21500 it can be sold with SL of 21600 for targets of 21300-21100.
Disclosure: I don't have any position in Nifty and Banknifty futures.
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