Market is in clear break out and you can expect 100 points move on nifty today.
Nifty will open with a gap of 30 - 50 points in the open itself.
You can buy Nifty and Bank Nifty at the open itself and cover them at 6000 on
spot levels. Market can test 6030 - 6050 levels also. You need to trade with
strict stop loss and take profits appropriately.
6000 - 6050 will be important resistance and correction may come till 5850 - 5900.
Once the correction comes, it will give you opportunity to buy again.
Looking at the current pattern market is making, we don't see it surprising if
market test lifetime high of 6350 also in december.
Even Bank Nifty is very strong, you can look for 12,500 levels on spot for
profit booking.
Nifty will open with a gap of 30 - 50 points in the open itself.
You can buy Nifty and Bank Nifty at the open itself and cover them at 6000 on
spot levels. Market can test 6030 - 6050 levels also. You need to trade with
strict stop loss and take profits appropriately.
6000 - 6050 will be important resistance and correction may come till 5850 - 5900.
Once the correction comes, it will give you opportunity to buy again.
Looking at the current pattern market is making, we don't see it surprising if
market test lifetime high of 6350 also in december.
Even Bank Nifty is very strong, you can look for 12,500 levels on spot for
profit booking.
The broader markets also fell sharply as the Nifty Midcap and Smallcap indices dropped over 2 percent.
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