Bank Nifty is trading well below breakdown Level 2. It is in Sell on rises means we sell at every resistance area. The resistances for today are 10047.60 and 10135. Support is at 9959/60
Today being expiry day we may see whipsaws in the market. Trade with caution or stay out.
Nifty Open High was same at 5350 and our stand was to sell below 5362. Went short at opening at 5344 exited partially at 5318 and fully at 5300. Total points 44 points BankNifty As per strategy opening went long at 10090 and exited at 10145. Decision to exit was taken as BNF missed our target of 10167 by 12 points and below 10167 is sell area. Went short at 10140 as per plan and exited at 10040. Total Points 150 points.
Wednesday, 29 August 2012
All Six Levels are in SELL Mode Above 10090 will trade towards 10167 Buy Above 10090 target 10167. Stop at 10030 Sell on rises to 10167 and 10211 stop at 10256
All Three Upper Trading Levels are in SELL mode. One Lower Trading Level is in SELL mode and two are in Buy Mode Below 5362 will trade towards 5318. Sell around 5362 or even higher at 5390 stop at 5413 Buy near 5318. Trading Range 5318 to 5362
Down Trend to continue below 10177. Above this will pause and give opportunity to sell on rises.
For today above 10197 sell around 10241 with stop above Breakdown 1 which is at 10286.