Nifty and Bank Nifty Technical Analysis for 27 Aug’13

Nifty as on 26 Aug’13– 5476.50 (+4.75)    Bank Nifty as on 26 Aug’13– 9373.55 (-96.55)

Based on last session’s movement it seems that bulls have no power to continue the uptrend, and bears are still having full control over the market. Yes, expiry is due, and that is also playing important role in price movement. In first go, it appears that it kind of reversal in Nifty and Bank Nifty, and now it is better to wait and watch.

Nifty Trading Strategy

Now, taking any position involves high risk, so better to stay away. Broadly, our attention is turning on weak side, with last sessions high as stop loss, and if it has to turn bullish then on opening only prices should start rallying.

Bank Nifty Trading Strategy

Bank Nifty after giving some positive clues on Friday, it turned lower in last session. Now, better to wait and watch.

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