Nifty and Bank Nifty Technical Analysis for 11 Oct’13

Nifty as on 10 Oct’13– 6020.95 (+13.50)    Bank Nifty as on 10 Oct’13– 10289.00 (-46.00)

Big players are puzzling with retail investors. It is really difficult to presume that where they are guiding the markets. In the last session, Nifty and Bank Nifty more or less remained static, as against expectation of some bullish momentum.

Now, based on pure technical’s small real body near resistance levels (bank nifty) creates skeptical atmosphere, something similar in Nifty also, small real body after smart gains of earlier session.  Price action creates doom, but if we see some past action than we add one more doubt to our understanding that, market is behaving in an irrational manner (may be our logics are irrational too), so you never know what could be next move.

Nifty Trading Strategy

Although, we are little skeptical but we stick to our guns and prefer to go long on dips. Please note, risk involvement is becoming higher now.

Bank Nifty Trading Strategy

In the Bank Nifty we like to take fresh bullish call only above 10650 only, until that time we may excuse Bank Nifty. Bye Bye…

Keep visiting Way2Profits, for unbiased Daily view on the Nifty and Bank Nifty.

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