Nifty & Bank Nifty Trading Strategy as on 28 May’13

Nifty as on 27 May’13– 6083.15 (+99.60)    Bank Nifty as on 27 May’13 – 12961.55 (+192.20)

In my last post I had clearly mentioned that we can’t overrule the possibility of bounce, and it took place. I had also mentioned about specific levels and strategy, it worked well. (To view click here)

Similarly, Bank Nifty post I have mentioned step by step price point, where to look for and how to look for, barring one fact of opening, Bank Nifty followed rest four conditions perfectly. (To view click here)

Nifty Trading Strategy

In last session Nifty made a high of 6099.90.  As I said, I will turn my attention on long side once NIFTY moves above 6120 level. So, it is clear if you see nifty moving above 6120 than go along with only 20-25 point stop loss. If not, than wait for time being.

In any case, Nifty moves and sustain above 6120 than traders can also Long Call of 6200 of next month expiry, but for which essential condition is close above this level, otherwise it is better to exit from position.

Bank Nifty Trading Strategy

In the last session, Bank Nifty behaved exactly as per expectation, and finally closed below 13000. I would like to see Bank Nifty staying above 1300 level, if it happens than next target comes to retest the highs of 13400. Below 13000 prices will stay mixed.

Traders can also long Call of 13400 next month expiry option, but only above 13000.

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