- SGX NIFTY is already trading up with almost 40-45 points up and trading near 16433 NIFTY will also follow this.
#Nifty have some resistance around 16425-45 but in downside, if market breaks 16300, you may see these levels 16240-50 is possible.
#BankNifty may trade in a range of 35800-36200.
If 35800 breaks, 150-200 points on downside is possible.
Selling at resistance with small stoploss may be good today.
Have a good day ahead… 👏
you can check the support areas in NIfty as i have draw it with horizontal line .
1st Support area- near 16375
2nd support area- near 16340
If Nifty has to be upside so this 2 levels should remain sustain in NIfty otherwise
If NIFty breaks 16300 the space is empty means you can sell below 16300 for the target . 16250.For Banknifty if NIfty is getting weaker then banknifty will also follow this.
Disclaimer : This analysis is totally based on my knowledge and my experience it may give you loss or profit so kindly contact your financial advisor before taking any trade . if you will losse i will not responsible for this .
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