Nifty, Bank Nifty and Finnifty Trading Levels
Tip of the Day: If IT and Banking Stocks recovered on thursday, then market will recover. Otherwise Nifty is Temporarily week.
Bank Nifty is stronger than Nifty.
1. NIFTY LEVELS
Nifty PCR is 0.61, Indicating Oversold market, risk of big fall is minimum.
Highest Open Interest at 25000. Nifty can cry to cross this level.
Key resitance Level 25075 to 25125.
Strong Support Area: 24754 to 24860
RSI Indicating Positive Nifty Position
RSI Crossover Also indicating Positive Sign
2. BANK NIFTY LEVELS
Bank Nifty PCR is 0.77, Indicating Oversold Position.
Key Support Level: 50955 TO 51025 If broken with volume can be disastrous.
Key resitance Level (51425 to 51555).
Strong Buying Zone: (50555 to 50725)
RSI Still Indicating Positive sign on Weekly basis
Important Point: PSU Banks are dragging the Bank nifty.
Pvt Banks are strong. Keep on radar PSU Bank Index.
While Taking Trade: One Must Keep Focus on hammer at the bottom in 15 mins chart.
3. FIN NIFTY LEVELS
Bank Nifty PCR is 0.57, Indicating Oversold Position.
Key Support Level 23575 to 23600. Finnifty can fall upto 23455 if key support broken.
Key resitance Level 23700 to 23735.
RSI Indicating Positive sign for finnifty
Disclaimer
Before going through this article on must ensure that:
1. All the information provided in this article is only for educational purpose
2. Data given in this article are collected from various trusted websites such bseindia.com, moneycontrol.com, screener.in
3. I am only sharing my person view as a trader and an investor
4. Please consult your financial advisor before taking any decision
5. Trading in Equity, Commodities and derivatives involves risk
6. Dynamic Tutorials and Services and Kumar Nirmal Prasad are not responsible for any losses incurred by following this article.
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