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 8878 marks.
RESISTANCE: NIFTY will have RESISTANCE around 8982 marks.
since BULLs will have the upper hand today, one should BUY NEAR SUPPORT of 8878 Target will be 8982 & stoploss will be 8804
(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 20767 marks.
RESISTANCE: NIFTY will have RESISTANCE around 21023 marks.
since BULLs will have the upper hand today, one should BUY NEAR SUPPORT of 20767 Target will be 21023 & stoploss will be 20624
(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 shows some consolidation at lower levels. Most of the time such consolidation at the lower end will break out on an upside. One can expect shorts to get covered & value buying by bulls at lower levels. Today Profit book by shorts + Value buying leads to an uptick in the market. BUY ON SUPPORT LEVEL 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.
