BEARs will Try to control the market today.
Today's market Set up & Sentiments among traders are MIXED(POSITIVE+NEGATIVE) today. Some Traders are willing to book profits(SELL) and some are Looking for dips to Buy more.Today one can find plenty of buyer on dips & plenty of seller on rising. No one(bulls-bears) are dominating for the full trading day. one has to consider above for Nifty Price Today's View & Levels.
NIFTY- SUPPORT & RESISTANCE
Where to enter & Exit
SUPPORT:NIFTY should find its
SUPPORT around 8672 marks.
RESISTANCE:NIFTY will have RESISTANCE around 8759 marks
.Since BEARs will have upper hand today, one should SELL NEAR RESISTANCE of 8759 & Target will be 8672 stop-loss will be 8784
(P.S- Support/resistance level/stop loss levels are given above --based on NIFTY SPOT price)
BANK NIFTY-SUPPORT & RESISTANCE
Where to enter & Exit
SUPPORT:NIFTY should find its SUPPORT around 20108 marks.
RESISTANCE:NIFTY will have RESISTANCE around 20316 marks.
Since BEARs will have upper hand today, one should SELL NEAR RESISTANCE of 20316 & Target will be 20108 stop-loss will be 20460
(P.S- Support/resistance level/stop loss levels are given above --based on BANK NIFTY SPOT price)
Nifty price today's View & Levels-commentary
Knowing all above, what you should do
The market has fallen a good bit of amount on last few days, The trend has confirmed to the downward. Traders can also start a selling in current market on small rises & Build short position. Since bulls are very cautious, there is not ongoing buying from their side. and frighten bulls will try to sell as soon as possible to get out on profit or at break-even. ( JUST make caution of some good new intraday wise, as it may lead to massive short covering). The best strategy for today is to start SHORTING AT RESISTANCE LEVELDisclaimer Tactical Venture is in compliance with SEBIs Research Analyst 2014 regulation. Before making recommendations, SEBI has asked individual analysts to register with SEBI. However, analyst allowed to comments on general trends of Security markets & allowed for discussion on broad-based Indices & General market condition. Technical Analysis relating to demand and supply in a Sector or an Index is permissible. At Tactical Venture w.e.f 1st December 2014, all posts are in compliance with the new regulation of SEBI. Nifty Price Todays View & Levels will be under the scope of SEBI guidelines.
