Nifty and Bank Nifty Technical Analysis for 19 Sept’13

Nifty as on 17 Sept’13– 5899.45 (+49.25)    Bank Nifty as on 17 Sept’13– 10447.85 (+168.25)

After staying dull for most of the day, Nifty gained in last 45 minutes. In fact, in the last article only we mentioned that on hourly time frame Nifty is looking slightly positive. At the same time Bank Nifty is ready to give tough fight now, and who knows it becomes perfomer now. Keep Fingers Cross. On the other side, CNX IT Index is dancing on the tunes of USD/INR movement, it seems that this stocks has lost its own identity and their future is only decided by INR movement,

Nifty Daily Trading Strategy

It seems that bulls are coming out of the bush and taking over the market. According to us, now Nifty has an opportunity to show us at least 5970 levels, and who know that falling trendline can be taken out and we see 6100 levels.

Bank Nifty Daily Trading Strategy

Although Bank Nifty turned positive in last session but still, it has to come over many obstacles, one is coming ~10750 levels. Traders should stay long with stop of 10500, now it is up to them how they catch the trade.

When everything seems quite obvious, at that time trader should stay focus, you never know when other party strikes and give you big surprise.

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

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