Dear All,
Spot nifty manged to close above 5030 for two consecutive days. However it finds some difficulty at 5115. Some pressure is seen at this level where there is a possibility of the index correcting to the levels of 5040. Our view is bullish above 5030. However, we will have to reverse our view below 5030 on closing basis.
We suggest to stay positive with 5030 stop loss.
Nifty Futures has good support at 5050. Long positions should be reversed on close below 5050.
Bank Nifty too tested the levels of 9300 and is finding selling pressure at the levels. Our view is positive on the same with 9100 as stop loss on closing basis.
Thanks and Regards
Rohit Saxena
Losers say it is hard and impossible, but winners say it is hard but not impossible." Rohit Saxena
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