BULLs will Try to control the market today.
Today's Market Set up & sentiments among Traders seems VERY STRONG TODAY.Traders are now willing to BUY at an even higher level than Yesterday's close.
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 8827 marks.
RESISTANCE: NIFTY will have RESISTANCE around 8912 marks.
since BULLs will have the upper hand today, one should BUY NEAR SUPPORT of 8827 Target will be 8912 & stoploss will be 8738
(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 20639 marks.
RESISTANCE: NIFTY will have RESISTANCE around 21007 marks.
since BULLs will have the upper hand today, one should BUY NEAR SUPPORT of 20639 Target will be 21007 & stop loss will be 20443
(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 downtrend has confirmed and it is on solid grips of bears. Yet, last trading day, Traders had covered their Shorts as they fear market to bottom out. Now the price has risen and shorts are out of a system. Traders(Bears) can now short sell the market(nifty), as Bears do not have a risk from short covering by weak bears. Bulls will also try to sell today, as they also know about downtrend. SELL SHORT around RESISTANCE LEVEL or minor rise is dominating strategy.
Disclaimer 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.
