MESSAGES

Bank nifty either will hit 49500 or 47200 before 8 may 2024

Aayansh Bro, I have shared my view. As I said earlier Iam just trading using weekly charts. Smiliey. If there is a weekly close for Nifty Futures above 22520 by our closing time then upward momentum can continue. Otherwise downward journey. NiftyIt is very week. BN going against money flow. Nifty FMCG is week. NiftyAuto Over bought. Nifty metals ultra bullish Looks more leg room. Nifty Pharma may consolidate. So it is BN and IT very likely bring down Nifty is my view. Again the view is void whenever there is a weekly close on futures above 22520. Smiley. Trade Safe. Best Wishes.

Passerby bro whats your view on Nifty now considering it has beached 22500

It looks upward retracement of previous fall got over and a thousand points upmove happened. I am also glad I closed majorty of myshorts I closed when there was a weekly close above 22020. If nifty futures weekly closing below 22520 by our time tomorrow suggest add more shorts. A close below 21.8k will add additional shorts... Currently May futures are trying to hold onto 22520 but may not happen. The way we opened above 20.5 back in Jan very likely we will open below 22.5k and gap may not be filled for few months at least is my current view. Around 37k is where some support exists for DJ. Infact that is what I thought when it was around 37.8k last time but it ended up moving towards 38.5. Below 37k 36.3k and 35k is where it might stop.. And for our indices my self did not expect the gaps for Nifty and BN to be closed today. Infact I was looking forward to it in June. And then go above towards 24k. Now that it is closed may downward target is really open... Lets see. A weekly close above 22.520 of futures is still a stop for short trades. Trade Safe. Best Wishes.

Greenhorn bro that was the correct thing to do. I also closed my major shorts as futures closed way above 22.020. I also closed HDFC Bank option longs that I got in a day before. Still long in June puts.. For nifty spot depending up hdfcbank results may attempt to close that gap at 22.520 which also happened to be 5th trading day. If it cannot close that gap on monday very like it will atempt in 3 two 5 weeks. There is a resistance at 22.320. Weekly charts of both nifty and bn are still week. We did massive intraday moves in the correction week. So next week may be some consolidation prior to making another down move it looks. A weekly close above 22.520 happens nifty may attempt new ath again. I am still looking forward for a move towards 20.2k on nifty spot. Trade Safe. Best Wishes.

Futures hit our first target of 21.8 and 21.6 band. A weekly close below 21.82 then very likely the path towards 21.2 and 20.5k and 20.2 band will become clear. For dow some kind of support can come around 36.2k and eventually towards 35k odd level that I had been mentioning. Not at 37.5k level where it is hanging. As I mentioned around a month back for Dow the setup was similar to 2020 fall.. So suggest not to buy the dip yet. Now hdfc bank structure also seems to have changed.. May test 1440 1420 it looks. Even if there is up move 1520 may be strong resistance.. So if we are closing by our closing time above 21.820 then book some profits and carry shorts. If we are closing below 21.650 then add more shorts.. At the same time hedge with few hdfc bank 1480 calls. Safetraders can wait until monday for hdfcbank results too. But so far carrying puts over a holiday has been working out. Probability of weekly close below 21.82 is very high.. Stay with monthlies. Trade Safe. Best Wishes.

mind not mid. smiley

thnx bro for ur vu and concern. i will definitely keep it in my mid. bw and tc

Say whatever u want greenhorn but bank nif5y and nifty are ready to go all time high. All large caps ready to create their 52 week high. Short mat karna market ko bhai.

thnx bro. kindly keep updating. bw, tc