A perfect consolidation day today. It was expected. After seven consecutive higher lows, it formed lower low, though one must not forget today also it formed higher high.
There is lot of liquidity.
Strength in Rupee, drop in oil price will ignore Fed worry and higher US index (above 82) for sure.And NIFTY will use all these as impetus for at least 100 points up-move tomorrow.
For past few days IT and banking did not participate in rally and tomorrow could be their day. There is rumor that Government has approved holding company structure for banks. If this is true then Bank NIFTY will go up by at least 300 points and NIFTY by at least 70-80 points.
No weakness.
Stay long.
SBIN
buy 2450 SBIN CALL between 22-24. Just Rs. 3000 investment could fetch good returns.
NIFTY
See second breakout (blue spot) and stay long for target 7975-7985 for tomorrow. Buy NIFTY on every decline tomorrow, or simply buy it till the time it holds 7825 till expiration this month.
It seems there will be gap up opening tomorrow and one can buy immediately after day open with target 7975 and SL should be today's (Wednesday) low around 7865.
In bull market 7865-7860 could be a good support and should not be broken on EOD basis till expiration this month.
Disclaimer: This block does not take any responsibility of your profit/loss.
There is lot of liquidity.
Strength in Rupee, drop in oil price will ignore Fed worry and higher US index (above 82) for sure.And NIFTY will use all these as impetus for at least 100 points up-move tomorrow.
For past few days IT and banking did not participate in rally and tomorrow could be their day. There is rumor that Government has approved holding company structure for banks. If this is true then Bank NIFTY will go up by at least 300 points and NIFTY by at least 70-80 points.
No weakness.
Stay long.
SBIN
buy 2450 SBIN CALL between 22-24. Just Rs. 3000 investment could fetch good returns.
NIFTY
See second breakout (blue spot) and stay long for target 7975-7985 for tomorrow. Buy NIFTY on every decline tomorrow, or simply buy it till the time it holds 7825 till expiration this month.
It seems there will be gap up opening tomorrow and one can buy immediately after day open with target 7975 and SL should be today's (Wednesday) low around 7865.
In bull market 7865-7860 could be a good support and should not be broken on EOD basis till expiration this month.
Disclaimer: This block does not take any responsibility of your profit/loss.
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