Today our markets opened in green but were unable to sustain the gains which led the indices to close in the negative territory. On the basis of daily Nifty Charts, for the second consecutive trading session, we are observing a narrow range body formation which reflects cautious approach at higher levels. In the coming trading session if indices trade convincingly above 20,105 / 6,038 levels then it may test 20,200 - 20,300 / 6,070 - 6,100 levels. On the downside, 19,746 - 19,660 / 5,928 - 5,900 may act as supports for the day.
Trading Strategies For Nifty Futures and Bank Nifty :
Nifty Futures
Buy Nifty futures above 6,050 for target of 6,080-6,110 and stop loss of 6,030.
Bank Nifty Futures
Buy Bank Nifty futures above 12,350 for target of 12,400-12,450 and stop loss of 12,300.
Trading Strategies For Nifty Futures and Bank Nifty :
Nifty Futures
Buy Nifty futures above 6,050 for target of 6,080-6,110 and stop loss of 6,030.
Bank Nifty Futures
Buy Bank Nifty futures above 12,350 for target of 12,400-12,450 and stop loss of 12,300.
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