Intraday Nifty Stock market Tips For Today :Last week it was made a high 5132 but due to global weakness major weakness was seen resulted it was made a low 4796 and finally made a close at 4845 with a close of more 300 points.
As this week is a FO expiry so high volatility in the market continues. We may consider resistance/pull back 4925-4950-5050 again a fresh selling pressure down side support is 4800; decisively break more downside up to 4730-4692-4538. As per Fibonacci projection it hold support level 4800, little bounce back, if unable to hold, down side target 4300 or below in coming days. Close above 5250 think to medium recovery.
Today: At the end of the week Nifty opens positively it was showing very volatile situation in the market and closes with correction negatively. Now today consider resistance 4900-4925 successfully crossover only some up side, down side support is 4800 decisively break immediate target 4750-4730. Technically it is in channel line formation below 4781 can see more down side. Today Magic No. 4899 remain below bear favour...
Last week market was full control of Bears and rampage in the street due to largely global concern regarding European banks, Morgan Stanley down grading global economic growth, fear that developed economies are on the verge of entering recession again. FIIs again pressed sales in secondary market and finally made a low of 16000, which is critical support zone in near term, which is also 38.2% retracement of the rally from March 2009 low.
Now we may consider in this week support previous week low 15987 and decisively break it will heading towards 15650-15300-15000 mark. Beyond 15000 more down side and non stop target 13000+ likely in medium term. On the positive sided, hold 16000- pull back rally on the card up to 16450-16775.
Today: At the end of the week BSE SENSEX open positively and showing volatile situation. And corrective rally in the market showing new lows in the market at the end close negatively. Now we may consider resistance 16352-16432-16683 and fresh move only above that level, down side support exit 15987-15789 and stay with volume more downside. Today below 16303 down side continue.
BANK NIFTY STOCK : Overall trend is extremely bearish but in over sold region and some bounce back cannot be ruled out. Last we were bearish below 10300 and finally it has made a low 9300. Now in this week consider resistance 9650-9700, decisively crossover it will some strength due to short covering and may test 9850-9990. Down side support 9300, thereafter weakness continues. Try to exit on rise. Two close below 9300 target 8410. Corrective rally will face resistance 10000.
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