BANK NIFTY
- BANK NIFTY is trading near resistance line.
- rising support line should support any fall and the bullish engulfing should also support the bulls view.
- breaking the support line will bring the index down to 8000 levels.
- breaking resistance line will propel the index to 10000 levels.
Thank You
- HDIL is trading near the bottom of the channel.
- one can go long with a stop loss of 258 for a target of 285 minimum.
- channel lower boundary should be the stop loss. The reason for this trade is the channel, If the reason is not valid don't stay in the trade.
- NIFTY has broken down from the triangle formation.
- Now smart traders will look to sell on every rise. Safe trade will be to short near the 5300 area with a stop loss of 5330.
NIFTY HOUR CHART
- NIFTY hour has formed a triangle
- MACD may give a buy signal this can be confirmed with the break of the trend line.
- keep 5210 as stop loss.
