INDORE, India -- MARKET WRAP FOR NIFTY & BANK NIFTY
Nifty:-
Today nifty ware open at 8941.60, then nifty took high of 8969.45, then nifty move to diagonal way and took a life time high of 9008.25, close at 8996.25.Nifty index advances 29, declines 21. NSE advances 773 declines 409, unchanged 34.so, and recommendation for nifty to long for 9200, in short-term. Indicators MADC and RSI are break out (RSI on Moving avg.) in daily charts. Basis on indicators and pattern it should long for 9000-9300.
So recommendation for nifty to long for 8850, 8900 sl 8750.
Bank Nifty:-
Today Bank nifty ware open at 20029.80. Then bank nifty ware consolidates in the range of 20000-20200, after took low of 19955, close at 20135. in bank nifty index advances 7, declines 5.So, long bank nifty for 20500, in short-term. There is RSI cross over on simple moving average-11(55.95) MACD line ware down from 0 levels (20.32). Basis on indicators and pattern it should move in the range of 20000-20300.
So recommendation for Bank nifty to long for 20000 sl .19800.
Stock Recommendation:-
Nifty:-
Date and Time 04-03-15
Call: LONG
CMP: 8996.25 (SPOT)
Initiation Level: 9050
Book Profit (Level 1):
9150
Book Profit (Level 2): 9350
Stop Loss: 8850
Conviction Level; moderate risk
Reason: CORRECTION
Short term Trend: CORRECTION
Medium Term Trend: UP
For the investor: LONG IN DEEP
For Aggressive Traders: SELL ON RISE
Support: 8700-8600
Resistance- 9030.
Duration: 1-2 Days
Bank Nifty:-
Date and Time 04-03-15
Stock: BANKNIFTY
Call: LONG
Initiation Level: 20150
Book Profit (Level 1):
20300
Book Profit (Level 2): 20600
Stop Loss: 19800.
Conviction Level: moderate risk
Reason: consolidate.
Short term Trend: CORRECTIVE
Medium Term Trend: UP
For the Investor: LONG IN DEEP.
For Aggressive Traders: SELL ON RISE.
Support: 19000-18500
Duration: 1-2 Days
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