Nifty & Bank Nifty Trading Strategy as on 07 June’13

Nifty as on 06 June’13– 5921.40 (-2.45)    Bank Nifty as on 06 June’13– 12398.40 (+109.05)

Yes, Nifty made a low of 5869.50, finally expected level has come. It seems that Nifty is struggling to move higher, but support from lower level is holding back the prices. In last two days, no decisive action, let’s see, today.

Bank Nifty opened minor gap down, but managed to recover losses and attempted to move higher, made a high of 12475, but settled exactly below 12400 levels.

Nifty Trading Strategy

If, today Nifty opens above 5950 and sustains above 5975 then traders might go long in 6100 CE option. And, if above hypothesis proves wrong, than look for short position below 5870 level. (Don’t, intiate position in first 15 minutes)

Bank Nifty Trading Strategy

Now, Bank Nifty stand close to key level, it can easily give false breakout and trap traders. Aggressive traders can go long above 12450 level (on safer side), with strict stop loss of 12400. Otherwise, shorting opportunity will come below 12150 level.

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