Monthly Archives: October 2013

#2 BankNifty Update: Be ready for a take-off to 12300

BankNifty seems to be ahead of Nifty of signalling a buy call. Bank Nifty has technically taken a strong support of 61.8% of the previous rally and bounced back yesterday to a runway for flight towards 12300 in near term. But still indicators are not ready for take off and we need some confirmation from their side. On other hand index is hovering around once a resistance line which could act as a support line further. Short term moving averages are clustered around 10000 level. Currently we are biased towards upperside for the index.

Our Strategy: We recommend risk takers to go long  with sl of 9580 while SAFE Traders are recommended to go long ABOVE 10032 with tgts of 10600/11200/12300 SL:9815 

#175 Nifty update: No trading Zone for Safe traders

In our last post #174, we did recommend to cover shorts which we initiated around 5988 in our post #172. We hope that most of you got 215 points on our last short call. Now its a No trading zone for the safe traders upto 5889.   Yesterday Nifty has comfortably closed above Long term moving averages indicating a strong support level around 5740 which we had be mentioning since long. Indicators on daily charts are at the mid-way suggesting to support both the bull and bear side equally. Analyzing the chart with waves, we are in a secular bull trend but in the mid way correct phase. We could get a confirmed short term buy call only above 5889. For risk traders we have already initiated long on Nifty at 5760 on our FB page . Follow us there for instant updates and recommendations.

Our Strategy: We recommend safe traders to go long on NIFTY above 5889 and add longs above 5915 with tgts of 5988/6090/6150.