Bank Nifty & Nifty Trading Strategy for 10 July’13

Nifty as on 09 July’13– 5859.00 (+47.45)    Bank Nifty as on 09 July’13– 11442.45 (+159.15)

Damn frustrating, isn’t it???

From last Tuesday, Nifty is moving clueless, two days of rise, two days of fall, with gaps. Now, according to our analysis Nifty has 30 points to cross (between 5860 to 5890) to turn positive, will it manage to do so? Answer is 70% yes, and 30% no. Bank Nifty is turning up positive, while CNX IT is also moving on a positive note. Only hourly chart is little hesitant to confirm the fact.

Nifty Trading Strategy

Those who have followed our strategy given yesterday, must have made some money. Now, 5860-5890 is risk zone, risk averse traders can ignore this zone, and think of going long above 5900 levels. Don’t jump into trade once you see 5900 levels, it may be possible that Nifty witness only spike towards this level and turn lower again. But if Nifty sustains above this level, than buy on dips should be strategy.

Bank Nifty Trading Strategy

Bank Nifty has given positive clues in the last session. Now we need to see Bank Nifty closing 11500 levels and we have all reasons to turn bullish in the bank nifty. Till that time keep watch on it.

 

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