BankNifty Weekly Diairies 4th to 8th June 2016

BNF closed at 26692 for the week, after a roller coaster week, we have one word to say about BNF-Expect the Unexpected!

Read our last week article to know about our performance.

Before that GDP data was released last week, Automobile sales data, Manufacturing Data – Whats the impact on markets – the market will tell in few months -wait &watch

Coming to this week, whats in store

PMI Service data on Tuesday, All important RBI meet on Wednesday, Finally BNF Weekly Expire on Thursday

Events would be every day, whats important is how markets react before and after!

Try to figure the clue from the markets, no one in this universe can predict the markets, as each second in markets are unique.

Price Action gives us patterns and clues to trade the markets.

BNF Support -26620,26380,26120,25920 & 25720

Bears will control the bulls if markets close below 26570 for two days

What next if they do – 1) take support at 26570, and if bulls take charge and reverse, it’s a clue that markets want to move on the upside -bears are out of the equation

2)breaks 26570, and bears would dominate the force and would take the markets to 26380 -26220, if they are in real force, then they would take out 26000 and more if they are unable to take out 26220. Markets are not ready to go downside yet -need to respect the price action

This is just probability -It may happen or may not happen – Disclaimer  -Markets shouldn’t be predicted

BNF Resistance -26880,27070,27220,27390, & 27490

Bulls will control the bears if markets close above 26960 for two days

what next if they do, Would fly towards 27220 & 27390.

Let Markets do, what it wants

Trade less from saving money

All the Best

Sagar U.S

 

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