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.
AGGRESSIVE SELLING by traders should be expected as Traders will tend to book Profits & Want to create New shorts on INDEX. Moreover, riseTraders are so much Loaded up, they can not buy more. 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 8720 marks.
RESISTANCE: NIFTY will have RESISTANCE around 8833 marks.
Since BEARs will have upper hand today, one should SELL NEAR RESISTANCE of 8833 & Target will be 8720 stop-loss will be 8875
(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 20327 marks.
RESISTANCE: NIFTY will have RESISTANCE around 20548 marks.
Since BEARs will have upper hand today, one should SELL NEAR RESISTANCE of 20548 & Target will be 20327 stop-loss will be 20663
(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
Last trading day, Traders have created so many shorts on market. So, for today momentum will likely to continue on the downside. But, Traders must be cautious as some good news may lead to massive shorts covering. If today, there is no good news during the day, Expect another down day. SHORT SELL AT RESISTANCE Level is dominating strategy. (If some good news come, then it might lead to short covering)
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.
