Bank Nifty & Nifty Trading Strategy for 25 June’13

Nifty as on 24 June’13– 5590.20 (-77.40)    Bank Nifty as on 24 June’13– 11178.30 (-161.85)

It seems damage is not over yet, Nifty and Bank Nifty continue to slide further down. Now it will not be a big surprise for the market if Nifty touches its April’13 low of 5477.20 and Bank Nifty 10888.75. its sharp “V” turn, as Bears were smashed in month of April, May, now it’s time of Bulls to pay of the dues. And time wise, previous rise and recent fall moves in symmetry.

If I ignore previous counts and just look at recent move than it seems that it is perfect Expanded Flat Correction, my ellotician friends will not agree with me, but it is just first impression I got and I could not resist myself. Please forgive me.

Nifty Trading Strategy

As we mentioned in our weekly article also, that there is divergence emerging in Nifty chart, and even if Nifty falls from current level, then also this divergence will be valid, and continue to show us divergence. On the downside Nifty has potential to test low of 5500 mark, where it will find firm support. If at all Nifty turns higher from 5600 level, then it is advisable to trade in Intraday only, with the help of Gann Square of Nine Pivots or Camarilla Pivot Points.

Bank Nifty Trading Strategy

We sense, still there is further scope of downside in Bank Nifty. We see good support coming at 10975.

This week is Expiry week, and Indices moving in such a fashion, that volatility will be high, so plan your trade and trade your plan.

At Way2Profits, we always give you unbiased view. Please, don’t take our ideas as trading recommendations, it is just for educational purpose only, and we don’t accept any responsibility for the same.

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