Bank Nifty closed at 25394; Markets were UP for the last week
How to position to trade for the coming weeks
Bank Nifty Support – 25280, 25130, 24960 & 24660
Resistance – 25480, 25580, 25750 & 25950
After 2 weeks of downside, markets have started the weekly expiry on a positive start
Kotak Bank Results will be out on Monday
INDUSIND, HDFCBANK, YES BANK, AXIS BANK results have been out. Though Axis results came out with below-expected lines in last 20 years, we have seen huge up move in the stock, need to wait and watch, is it a trap or value buy.
Time will tell no predictions.
Bulls have to be a bit cautious for next 13 trading sessions.
It could be trap or trend change –time will decide, we professional traders, need to have patience and respect the price actions
With Karnataka Elections, SBI & ICICI yet to announce the results.Markets will be a bit slippery on both the sides.
25050-25350-25850 is a tough range for bank nifty
Break of these levels and close for 2 weeks on either of the levels, will decide the trend for the markets for a quarter
Example- 25050 has to be taken out by bears for at least for 2 weeks if they need to come back to the contest
Bulls have to take out 25850 for at least for 2 weeks if they need to show their strength
Trade with less quantity on the upside has markets have zoomed past 2000 points from the downside in last 2 months
Trade from savings money
All the Best