Negative opening is expected with extremely volatile session ahead. below 5543 spot …technically no one is going to support bulls. 5537 – 5543 are 2 technical levels …if broken http://dhanvarsha.in/macro-analysis-of-5-years-weekly-nifty-chart/ next iimediate fib support for nifty is lying at 5435 .
but reversal possibility is still there as bank nifty is trading at double bottom level in extremely oversold zone and closed making hammer candle at eod chart if any have buying will take place and nifty spot moved above 5550 then a smart pull back can not be ruled out.
Advised to buy bank nifty above 11050 stop loss 10980 target 11150 11290 11350 11500.
If 11000 will break then bank nifty may sustain at 10500 so do not stay in trade without stop loss . Trade with strict discipline and without emotions . Go long only when bank nifty starts its move towards upward direction. Do not try to catch falling knife
Trade in Nifty futures as per these levels
Buy at / above: 5552 Targets: 5568 – 5586 – 5604 – 5622
Stoploss : 5530
Sell at / below: 5530 Targets: 5515 – 5497 – 5478 – 5460
Stoploss : 5552
NIFTY OUTLOOK AND TRADING LEVELS FOR 08 APRIL 13
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