BANK NIFTY 4813

BANK NIFTY IS FINDING SUPPORT AT 9860 ZONE. JUST A COUPLE OF SESSIONS AGO IT FORMED A LONG-LEGGED  DOJI ON A DAILY CHART AND AS PER THE FIBO TOOL IT IS EVIDENT THAT THE INDEX IS HOLDING ITS GOLDEN RATIO. CONSIDERING THESE FACTORS WE EXPECT A SORT OF BOUNCE IN BANK NIFTY IF 9860 IS NOT BROKEN. SINCE THE OVER ALL TREND OF THE INDEX IS DOWN WE RECOMMEND TO TAKE EXPOSURE IN OPTIONS. TRADERS CAN BUY 10600 CE AT 131 WITH THE SL OF 50 TGT 350-400. MAX RISK IS RS.2025 PER LOT WHILE THE POTENTIAL GAIN IS UNLIMITED. 

BANK NIFTY 1813

BANK NIFTY TODAY FORMED A DOJI CANDLE STICK PATTERN ON A DAILY CHART AFTER A SHARP SELL OFF. IT KISSED THE RESISTANCE LEVEL OF 10200 BUT FAILED TO CLOSE ABOVE THE SAME. LOOKING AT THE RECOVERY WITNESSED IN BANK NIFTY AFTER COUPLE OF SWING LOWS IT SEEMS IT IS NOW IN DEMAND ZONE AND MAY MOVE NORTHWARD. RECOMMEND BUY ONLY ABOVE 10225 WITH STRICT SL OF 10140 FOR THE POSSIBLE UP MOVE UP TO 10530-10600 LEVEL.