Nifty and Bank Nifty Technical Analysis for 15 Oct’13

Nifty as on 14 Oct’13– 6112.70 (+16.50)    Bank Nifty as on 14 Oct’13– 10665.25 (+43.10)

Nifty and Bank Nifty both moved in a very tepid range through out the day, whereas CNX IT surged higher. Technically speaking, Nifty neither is confused at higher level, which is signified by small real candles on the chart, neither conclusively moving higher nor lower. So, for sure there will be huge round of volatility in days to come.

Betting for higher level is bit riskier at this place, we know that, but till we get any confirmation we should stick to our nifty view and look for long trades only. Dilemma is, may be upside is limited and risk to downside is equal, taking long call is tricky now.

Bank Nifty Trading Strategy

Our bank nifty view is optimistic and expecting at least 11+ levels. Let’s see.

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

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