Hello Good Morning Traders, Yesterday was a very good day for trading, i hope everyone would have exited in profits. After giving breakout of down slopping descending channel, there was a huge upside momentum in Banknifty and Finnifty. Nifty was already making new highs. so let's analyse for today's market.
I think today also we can see trending market, but there is retest needed for yesterday's breakout. We will wait to get best entry for upside. Market is going to give some gap up opening in today's morning according to gift nifty. I think we can see some profits booking in first session and then we can achieve our levels. In case if market will start moving upside as buyers are aggressively active since yesterday, then we will buy some where 20398 levels if those levels will be survive at least for 30 mints. I have marked everything on chart.
Important levels for Finance Nifty:-
Accumulate in between (20066-20149), Because that is only will be Best buying zone as after giving huge breakout, there is no any retest in yesterday's session, so wait for the best entry.
Targets will be 20315/20398+
Stop loss200 EMA line, right now at 20010, it will slightly increase according to price behaviour.
But
If you don't get these retest and downside in today's session then wait for to sustain above 20398 levels at least for 30 mints, and then go for target above 20520+
Then your stop loss will be 20149
Note:- Finance Nifty Expiry Special, Hero & Zero Trade Will be in 2nd half of the day in Trading session, according to price action By 1:15pm, So we will update by given time. follow us to get notification about this trade. and Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
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Thankyou.