Today spot Nifty made a low at 4758.85 and then recovered to close at 4835.40 with a loss of 32.35 points.Today on the downside all level were achieved.The trend is down yet as spot Nifty is trading below 4888.Above 4888 the break out level is 4933 if it comes we may go up to 4993 and 5060 for positional traders.The 20 dma is at 5008 which can be the resistance if short covering or profit booking as you call it for this expiry happens.
Levels to watch for intraday on Spot Nifty :No trading zone between 4818 to 4853 to avoid whipsaws.
Buy above 4853 with SL of 4838 for targets of 4870 - 4888 - 4905- 4923
Sell below 4818 with SL of 4835 for targets of 4801 - 4783 - 4766- 4749
Happy Trading !
sir u need not share ur view for nifty sept series end
ReplyDeleteHi SD,
ReplyDeleteI have given possibilities for the expiry which may come true or not true.As for my personal view on expiry I am un-baised on market and trade with intraday view by being both bull and bear as per the trade warrants.
Regards
K B Raut