Bank Nifty & Nifty Trading Strategy for 04 July’13

Nifty as on 03 July’13– 5770.90 (-86.65)    Bank Nifty as on 03 July’13– 11357.80 (-256.45)

One more chance Buddy…

Do we heard right, people are started talking about 5700!!!

In our last article we had mentioned that Bulls caught in trap, and sadly, they were badly trapped. Now to regain their lost charm they have to struggle a bit. We are more concerned about our trades, no matter who wins, who loose, and for that unbiased view, you all are visiting Way2Profits. We see to it that we are don’t get carried away by our emotions, even though we stand in wrong direction.

On hourly time frame we see some support coming to Nifty, but on daily and weekly basis , weakness already set in. Now, support to Nifty coming around 5735-40 levels, which has importance on a closing basis. Below 5730 nifty can move lower upto 5680 level.

We hate boasting about our self, you can check what we said yesterday, and what happened, click here.

Nifty Trading Strategy

On intraday basis, any move above 5790 can attract some buying, and it will be a last chance for bull camp. But any move below 5760 can drag prices towards 5730 and 5680 levels.

Bank Nifty Trading Strategy

Bank Nifty opened gap down and continued to fall further, which has opened the door till 11000. Yes, on intra-day basis, there could be minor possibility of pullback, but we sense that rise should be utilized for creating fresh shorts. But that call can be taken only in live market, as how it unfolds.

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