Thursday Market Recommendation
On charts, both Nifty and Bank Nifty future looking very strong for Thursday market we expect another session where bulls will be rewarded. 10600 is looking possible from now for Nifty future and in the process 10490-10510 is the hurdle that Nifty future has to face and for Bank Nifty future we can see 25550 level soon and the hurdle for Bank nifty future is 25090. Strategy for Thursday market will be again buying on dips and don’t panic with any fall in market and instead of panic use that fall for buying stock in your portfolio. Once again market is expected to be volatile and Economic News will keep affecting market fluctuations either it is domestic or global.
RESISTANCE & SUPPORT LEVELS -:
Support of Nifty future is placed at 10365 and 10300.
Resistance of Nifty future is placed at 10490 and 10530.
Support of Bank Nifty future is placed at 24710 and 24550
Resistance of Bank Nifty future is placed at 25100 and 25280
TECHNICAL VIEW:- Stock was consolidating around downward sloping trend line resistance level breakout and also formed inverted head and shoulder pattern on hourly chart which is bullish reversal pattern. MACD has shown upward crossover.
We recommended to buy TATA COMM FUT above the level of 642
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