Market View

NIFTY :  As Expected One More Effort Was Made To Cross 8650-8665 Zone But NF Just Made A High of 8548 And There Was A Sharp Reversal

Once Below 8571 There Was SHORT TRADE Opportunity And NF Plunged To Close At 8521 Making A LOW Of 8503

For Today Watch 8571 Again If NF Remains Above It For The First 15 Minutes (SGX NIFTY +45) One Can Try A Long Trade With A Stop At 8548 For A Target of 8600-8619-8648

IF NF Remains Below 8571-8555 At The End First 15 Minute Period 8503 Could be Again Tested And A MOVE Below 8503 will Open up NF Target upto 8460 First

This Hourly Chart Shows NF Is Clearly In A Broad Range Of 8660-8330

There Is A Clear SUPPLY ZONE Established Around 8650 in NIFTY So As Suggested Yesterday We Need A Strong CLOSE Above 8665 For Further Upside

EOD CHART OF NIFTY :

BANK NIFTY :

For BNF 19193-19250 Is The Recent SUPPLY Zone And BNF Can Cross This Zone There Will Be Further Upside Opening up

But Looking At The Last Hour Supply Yesterday It Will Be A Tough Ask Still Markets Can Do Anything So One Can Go Long Above The Zone

In A Non Trending Markets Like This One Must Think Of Opportunities On Both Sides So If BNF Trades Below 18795 First Target For Short Trade Will Be 18695 And Next one Will BE 18576

BNF Supply Zone And Support Trend Line  Can be Seen On its Hourly Chart

Stock Ideas :

AXIS BANK :  One Of The Weakest Hourly Structure Among Private Sector Banks

If Axis Remains Below 576-573 One Can Go Short With A STOP At 581 With First Target Of 565 And Next 555

HeroMotoco:

Heromotoco Looks Good On Chart

Go Long Above 2730 For Targets Of 2762-2780 With A Stop At 2709

INVESTMENT IDEAS :

AARVEEDEN : CMP:72.8 

Buy AARVEEDEN With A Stop At A Close Below 68 For Upside Target OF 80 And 89 And Near Term Future

BLUESTARCO : CMP:373.80

Buy With STOP At Close Below 350 For Target Of 399-445