Nifty blasted up after RBI ‘s credit policy -Sudden up swing in a day on RBI news pull market up and in up trending channel. hurdle 6250 support 6000 as per fib retracement levels ..one more big news will be announced today, that is out come of FOMC meet be cautious …
Bank nifty moved up by 400 points …it was on expected line as bank nifty was under performing and yesterday got fuel in the form of RBI policy ..It may move up by 200 points more then big hurdle at eod 200 dma will welcome it for 500 to 700 points reversal if it will not be able to cross if it will move past 200 dma then other 500 points up move can not be ruled out …stay on chart candles and emas..Fib levels 10291 10888 11484 200 dama 11406 ltp 11242
Positive to gap up opening is expected with extremely volatile session ahead .
1304700 OI decrease while up move ..addition for Nov more than 50 lac nifty share at 6250 75 … If profit booking emerge at higher levels then panic sell off below 6250 60 can not be ruled out but it seems market players will try to hold it at 6280 6320 Nov future levels and will wait for big move only tomorrow …stay at chatroom dhanvarsha for real time updates and calls http://dhanvarsha.in/chatroom/
Trade in Nifty futures Nov as per these levels
Buy at / above: 6303 Targets: 6319 – 6336 – 6356 – 6376
Stoploss : 6280
Sell at / below: 6280 Targets: 6263 – 6244 – 6224 – 6204
Stoploss : 6300
How to trade on these levels ??
suppose NF is trading at 6250 in that case 6244 will work as down side support ( target for short sellers ) and 6263 will act as resistance . if nifty will start its move from 6250 and fail to breach down side support 1 can buy above 6244 for target 6263 6280 with stoploss below 6244 …so trade according to levels in same fashion you may go short at 6355 if nifty futures wont move above 6356 with sl above 6356 for targets 6336 6319 6303 and so on
The US government will hit Indian outsourcing giant Infosys with the largest immigration fine ever levied. According to court documents and officials familiar with the case, Infosys has agreed to pay $35 million in a civil settlement to avoid restrictions on its use of US work visas.
Nifty blasted up after RBI's credit policy