Nifty (6186.10, +30.65, +0.50%)
Two days prior to the February equity derivative settlement, the Nifty closed on a strong note but a tad lower than the resistance zone between 6193 and 6212. This range would be the most critical levels for the bulls to take out; however, if they manage to do it then the next target would be 6244 through 6259. In any case, sustaining above 6212 would be quite crucial; any failure to do so would invite profit taking where 6158 or even 6141 could also be tested again. If this range is not broken on any sell-off for any reason, the Nifty would bounce back again.
Most critical levels for the day: 6193 – 6212, its immediate resistance
Strong resistance: 6244 – 6259
Major resistance: 6287 – 6310
Strong support: 6158 – 6141
Major support: 6118 – 6091
Bank Nifty (10683.50, +129.15, +1.22%)
The bank index has closed just above the important resistance level of 10682; it surely looks bullish! Now, it needs to stay above this level of 10682 and scale up. Once it sustains above 10708, it is likely to gather momentum and move up beyond 10750 to test the next resistance zone between 10774 and 10783. This is, by our reckoning, the last supply range before the index tries to climb up to the current pullback rally target between 10926 and 10950. On the downside, even in the event of any profit taking, unless it falls and closes below the support zone between 10598 and 10546, there would not be any problem for the bulls to pull it up again.
Most critical levels for the day: 10682 – 10708
Strong resistance: 10774 – 10783
Major resistance: 10926 – 10950
Immediate support: 10660 – 10625
Strong support: 10598 – 10546
Major support: 10496 - 10458
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
Two days prior to the February equity derivative settlement, the Nifty closed on a strong note but a tad lower than the resistance zone between 6193 and 6212. This range would be the most critical levels for the bulls to take out; however, if they manage to do it then the next target would be 6244 through 6259. In any case, sustaining above 6212 would be quite crucial; any failure to do so would invite profit taking where 6158 or even 6141 could also be tested again. If this range is not broken on any sell-off for any reason, the Nifty would bounce back again.
Most critical levels for the day: 6193 – 6212, its immediate resistance
Strong resistance: 6244 – 6259
Major resistance: 6287 – 6310
Strong support: 6158 – 6141
Major support: 6118 – 6091
Bank Nifty (10683.50, +129.15, +1.22%)
The bank index has closed just above the important resistance level of 10682; it surely looks bullish! Now, it needs to stay above this level of 10682 and scale up. Once it sustains above 10708, it is likely to gather momentum and move up beyond 10750 to test the next resistance zone between 10774 and 10783. This is, by our reckoning, the last supply range before the index tries to climb up to the current pullback rally target between 10926 and 10950. On the downside, even in the event of any profit taking, unless it falls and closes below the support zone between 10598 and 10546, there would not be any problem for the bulls to pull it up again.
Most critical levels for the day: 10682 – 10708
Strong resistance: 10774 – 10783
Major resistance: 10926 – 10950
Immediate support: 10660 – 10625
Strong support: 10598 – 10546
Major support: 10496 - 10458
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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