Nifty & Bank Nifty Trading Strategy as on 10 May’13

Nifty as on 09 May’13– 6050.15 (-19.15)                Bank Nifty as on 09 May’13 – 12596.30 (-46.75)

I was expecting Nifty to retest high of 6111 and which I am continuously saying from mid Apr’13. Nifty is just few points away from the target, in last session Nifty made a high of 6084.70 and turned sharply lower.

Bank Nifty moving in a consolidation from last couple of days, giving no clear clues, as some banks are performing and some are not.

Nifty Trading Strategy

Still I am waiting for confirmation, it is advisable to initiate position once clear trend emerges.

Bank Nifty Trading Strategy

Let, Bank Nifty to come out from choppy range, or momentum to give first signal, based on that we’ll take a fresh call on Monday. Till that, enjoy weekend.

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