Gap up opening is expected with volatile session ahead …nifty is trading in channels … both channels are supporting bulls ..bank nifty shown sharp decline with huge volumes is indicating that it is abnormal and we are sure that it is selling climax and if it is true then more than 1000 points up move within 30 to 40 days can not be ruled out ..we are looking for opportunity to go long on banking sector because it is extremely oversold and at 6000 level of nifty bank nifty must trade around 12500 13000 ..have a look at bank nifty eod chart trading making perfect double bottom at bottom bollinger and at long term trend line …look up trend line support is there …wont crash much … no emotions ..technical indication is here ..
Dhanvarsha nifty futures levels
Buy at / above: 5984 Targets: 6002 – 6021 – 6042 – 6061
Stoploss : 5964
Sell at / below: 5964 Targets: 5947 – 5932 – 5912 – 5891
Stoploss : 5984
highest trading volume 139,770 lots and highest addition in oi 262,725 is clearly indicating that bank nifty fell with increase in OI and volume ….Is it deception ??? …to learn more read about selling climax …
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Nifty Outlook / futures levels for 18 July 13
