Nifty Trading Strategy as on 24 Apr’13

Nifty as on 23 Apr’13 – 5836.90                       Bank Nifty as on 23 Apr’13 – 12543.40

Nifty and Bank Nifty moved as per expectation. Prices remained absolutely range bound, Nifty made a low of 5791 but could not sustain for long and again re-entered in the same range. Similarly Bank Nifty failed to move higher, but interestingly it found support from lower level, which indicates that still some bulls are alive in the counter, but struggling now. We should not forget last two days of expiry.

Nifty Trading Strategy

In the last session stop loss of 5800 was taken away. Now I think it is bit challenging to take trade in this market. Buy 5900 CE next month expiry, once prices moves above 5850 and holds for some time, with trading stop loss of 5800. Or below 5790 Buy 5700 PE next month expiry, with target of 5725.

(Yesterday’s Strategy)

Bank Nifty Trading Strategy

Go long once Bank Nifty moves above 12650 mark, or Buy CE of 12900 next month expiry. Note, if Bank Nifty gives weak close in today’s session than there is high chance of technical pullback in prices, and Bank Nifty may turn weak for short term, but let’s see.


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