Monday, 6 February 2017

NIFTY CLOSES ABOVE 8800 AT 5 MONTHS' HIGH

weekly UPL SELL call HIT TGT 720 MADE LOW OF 720.30!!!
Indian Stock Market would open positive. Technically, analysis would remain same and Indian Stock Market is still in positive zone. Traders should hold long positions as of now. Now, next target for Nifty is 8840-8860 levels. Nifty may see strong support at 8700 levels and is headed towards 8900-9000 levels. BankNifty is still in positive momentum and traders can hold BankNifty for the targets of 20500 levels in days to come. Market would see reversal if it closes below 8640 for Nifty and 19827 for BankNifty, until then every downtrend is an opportunity for traders to go long in the market. Overall, Market is positive and all trades should be in positive direction. RBI Policy would be disclosed on Wednesday that would further direct the market.
The support for the Nifty is 8697-8675-8615-8600-8570 and the resistance to the up move is at 8820-8840-8855-8885 levels.