Monday, December 2, 2013

bank nifty trading below 200 day moving average

bank nifty  trading below 200 day moving average which is at 11157 and bn ltp is 11154 ..falling trend line passing through 11450 50 dma is a 10712 and trading range is squeezing on daily chart .hurdles  11232 11450  supports 11015 10750   Trend neutral / indecisive


Stock markets are likely to start on a positive note on Monday taking positive cues from last week’s close and may see cautious trading afterwards ahead of state election results and winter session of the Parliament, which starts on December 5, experts said.

Besides, auto companies will be in focus amid release of monthly sales volume data for November.

Trend in investment by foreign institutional investors, global cues and movement of rupee will be key drivers for the stock market in near-term.

“On Monday, we’ll see the market reacting on GDP numbers on the opening note and considering the Friday’s close, markets are likely to uphold the prevailing positive bias in the next session too.

Almost flat opening is expected


Trade in Nifty as per these levels

Buy at / above: 6257   Targets:  6277 – 6297 – 6317-6344
Stoploss : 6239
Sell at / below: 6221   Targets: 6204- 6184 – 6165 – 6145
Stoploss : 6241

bank nifty trading below 200 day moving average