Nifty & Bank Nifty Trading Strategy for 19 June’13

Nifty as on 18 June’13– 5813.60 (-36.45)    Bank Nifty as on 18 June’13– 11820.95 (-150.10)

Yesterday was quite a choppy day for Nifty and Bank Nifty both. It was expected that Nifty can move effortlessly above 5870, but to our surprise Nifty made a high of 5863.40. Traders, it was clear challenge to Bulls party from Bears, we are there and don’t try to underestimate us.

Nifty Trading Strategy

Even yesterday we had mentioned that traders should wait for 5870 to break, above which first target comes at 5975. But, to go short trader has to wait for break below 5775 on closing basis. In between 5870 and 5775, we don’t see any trading opportunity.

Bank Nifty Trading Strategy

As we mentioned yesterday, Bank Nifty is still under risk. We sense that Bank Nifty will move lower further towards 11500 levels. Aggressive Traders can take short call on the market.

At Way2Profits, we always give you unbiased view. Please, don’t take our ideas as trading recommendations, it is just for educational purpose only, and we don’t accept any responsibility for the same.

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