Bank Nifty & Nifty Trading Strategy for 26 June’13

Nifty as on 25 June’13– 5609.10 (+18.85)    Bank Nifty as on 25 June’13– 11181.05 (+2.75)

Nifty and Bank Nifty both created hopes in the minds of traders and in the closing smashed the hopes. Expiry day is just two days away and market started behaving in some unwarranted fashion.

Nifty Trading Strategy

On closing basis Nifty gave Doji like candle which gives possibility of reversal in prices, but for that we need one positive close today. Below 5680 level Nifty will stay with weak bias, but selling at this level is not recommended. I think, traders should wait for close above 5680 to turn long, or go short below 5570 with an intraday perspective.

Bank Nifty Trading Strategy

Bank Nifty moving potential divergence on the chart, which creates possibility of bounce in Bank Nifty, and even last sessions candle, indicates the same thing, but it is advisable to wait for one more positive session. As expiry is very close and currency movement is also unexpected, you never know where market can head. It is better to stay away from the market for two days, or trade with intraday perspective only.

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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