Nifty & Bank Nifty Trading Strategy as on 30 Apr’13

Nifty as on 29 Apr’13 – 5904.10                       Bank Nifty as on 29 Apr’13 – 12609.15

It’s tie between Bulls & Bears.

Both Nifty and Bank Nifty remained in a tight range; neither Buys nor Sell level get even touched. The whole day prices get engulfed by previous day’s range. There was stock specific movement in the market.

Nifty Trading Strategy

As of now, it seems that Nifty is negating the possibility of technical pullback and may resume it up trend again, but for that we need one conclusive positive close. Now, in general everybody is expecting Nifty to move above 5940 than next resistance comes near 5970. But I think, it is risky to take this call, because everybody is keeping a close eye on these levels, and I sense that there is high chance that Nifty move above this level and triggering buy and may witness sudden sell-off from slightly higher level. It is just guessing based on contrarian approach.

According to Technical Analysis approach, trader should go long above 5950 level, but I would recommend keeping tight stop loss, don’t leveraging, reducing your lot size and play only what is natural, and lastly keep trailing your stop in profit.

Please note, above is just my fear, and I may prove wrong also.

Bank Nifty Trading Strategy

Similarly, Bank Nifty may negate the possibility of technical pullback and resume upward. Go long above 12700 with stop loss of 12500 (positional trader with high risk), or may follow Gann Square of Nine Rule to play intraday.


Once Bank Nifty break Friday’s low of 12470 and crosses 12450, than traders can initiate short position with stop above 12700. Initial target comes near 12000 and next 11800.

Positional calls in last week.


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