Nifty and Bank Nifty Technical Analysis for 12 Dec’13

Nifty as on 11 Dec’13– 6307.90 (-24.95)    Bank Nifty as on 11 Dec’13– 11784.35 (-59.10)

After making a high on Monday, from last two sessions Nifty is drifting lower but now allowing any shorts to build, by giving Doji and small real candle, which always put you in struggle. It seems that, trader who has patience and capital to bear odd storms can only play the game, and that also they should be quite knowledgeable and must have some logic behind taking a trade position.

Yesterday we said, to go short below 6300 (spot) keeping stop above 6330, so still our stop is not hit, but neither we are in profit also. Based on last hour development it seems that market may trade higher on Thursday, so it is better to exit from short call if taken. Longs can be taken above 6330, keeping stop below 6300.

Similarly, Bank Nifty also saw last hour recovery, so here bounce back can be expected.

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

The following two tabs change content below.
We are covering Major Equity, Forex& Commodity Markets, Way2Profits filters information and streams meaningful conclusions right to your inbox. Technical Research is our realm and we fathom the depths.

Latest posts by way2profits (see all)