Nifty and Bank Nifty Technical Analysis for 12 Sept’13

Nifty as on 11 Sept’13– 5913.15 (+216.35)    Bank Nifty as on 11 Sept’13– 10369.10 (+180.85)

Nifty is struggling to sustain above 5900 levels, but still it has not put down hands, making efforts to stretch further. Possibly, support from Bank Nifty and CNX IT Index can come to rescue, and even later performers metal and cement sector stocks are performing at this time.

Nifty Trading Strategy

Broadly, Nifty remained range bound in last session, neither bulls get something to cheer not bear players. Nifty moving and closing above 5900 levels, increases the possibility of further extension in prices, but there is equal probability so can’t bet conclusively. At this juncture we would like to take help of Gann Square of Nine calculator and prefer to go for Pivot Trading.

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