Nifty (6155.45, +64, +1.05%)
The index posted a grand recovery wiping out all the losses of the previous session. Now, it is likely to scale up even higher and test the next resistance zone between 6193 and 6212. The bulls are on the front-foot and they would retain the initiative unless the support between 6139 and 6111 are violated. Once the index stays above 6167, we can expect a strong upward march towards the critical supply zone between 6193 and 6212. If the range is successfully taken out then the next target zone would be between 6244 and 6259.
Most critical level for the day: 6167, its immediate resistance as well
Strong resistance: 6193 – 6212
Major resistance: 6244 – 6259
Strong support: 6139 – 6111
Major support: 6084 – 6058
Bank Nifty (10554.35, +126.05, +1.21%)
The Bank Nifty is looking all set to attempt to clear the important supply zone between 10682 and 10776 once it takes out the 10597 – 10625 zone, its initial resistance and the most critical levels for the day. Once we see it firmly getting past 10682- 10776 range, the pullback rally might even push the index to 10929 – 10950 target zone. However, for such a strong upsurge to happen the level of 10776 should be taken out decisively. On the downside, so long as the 10513 – 10420 range gets broken on heavy selling the bank bulls would push the index up once again.
Most critical levels for the day: 10597 – 10625, its initial resistance zone as well
Strong resistance: 10682 - 10776
Strong support: 10513 – 10420
Major resistance: 10625 – 10660
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
The index posted a grand recovery wiping out all the losses of the previous session. Now, it is likely to scale up even higher and test the next resistance zone between 6193 and 6212. The bulls are on the front-foot and they would retain the initiative unless the support between 6139 and 6111 are violated. Once the index stays above 6167, we can expect a strong upward march towards the critical supply zone between 6193 and 6212. If the range is successfully taken out then the next target zone would be between 6244 and 6259.
Most critical level for the day: 6167, its immediate resistance as well
Strong resistance: 6193 – 6212
Major resistance: 6244 – 6259
Strong support: 6139 – 6111
Major support: 6084 – 6058
Bank Nifty (10554.35, +126.05, +1.21%)
The Bank Nifty is looking all set to attempt to clear the important supply zone between 10682 and 10776 once it takes out the 10597 – 10625 zone, its initial resistance and the most critical levels for the day. Once we see it firmly getting past 10682- 10776 range, the pullback rally might even push the index to 10929 – 10950 target zone. However, for such a strong upsurge to happen the level of 10776 should be taken out decisively. On the downside, so long as the 10513 – 10420 range gets broken on heavy selling the bank bulls would push the index up once again.
Most critical levels for the day: 10597 – 10625, its initial resistance zone as well
Strong resistance: 10682 - 10776
Strong support: 10513 – 10420
Major resistance: 10625 – 10660
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
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