Nifty Outlook / futures levels for 18 July 13

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 …

stay logged in at chat room Dhanvarsha   http://dhanvarsha.in/chatroom/

Do not risk your capital / hard earned money on your gut feelings …you can save millions by paying a token fee to Dhanvarsha experts / contact admin if you want to join hands with us.

 

Nifty Outlook / futures levels for 18 July 13