Bulls back in control as Nifty closes above 18000 mark after 2 months.

Nifty

After a gap up opening Nifty witnessed sideways session and some buying during the afternoon session and managed to close above 18000 mark. 

Now, 18000 call option has an open intrest of 44L, so tomorrow if Nifty sustains above 18000 for some time we may witness a short covering rally and nifty can go till 18150-18200. A strong support is in the range of 17850-17950. 

Open your trading/demat account with us by clicking here to join our private group. 

Bank Nifty

Bank Nifty closes close to 38350 up 1.61% from yesterday's close. Bank nifty made a intraday high of 38400.35. 

Bank Nifty has a strong support at 38000, and once Bank Nifty starts trading above 38400, it will trigger a fresh momentum and we may witness a rally till 39000 in Bank Nifty. 

Open your trading/demat account with us by clicking here to join our private group. 

Stocks to watch out. 

1. Bata India 

Bata closes at 1916.40 and a close above 1900 has triggered a fresh momentum. With next resistance at 2050, Bata can perform well in short term. With a support at 1870, Bata looks good for short term bet. 

Open your trading/demat account with us by clicking here to join our private group.

2. Bharat Forge 

After struggling twice at 750, Bharat Forge manages to close above 750. 

Bharat Forge has a good support at 740 and resistance at 800-825. Bharat forge can perform well in the coming sessions. Ltp 767.50

Open your trading/demat account with us by clicking here to join our private group. 

Disclaimer

All the information is from source deemed to be reliable but there is no guarantee to the accuracy. Information is for EDUCATIONAL PURPOSES ONLY and is not intended to give specific trading or investment advice. past performance is no guarantee of future performance. Investment/ trading carries significant risk of loss and you should consult your financial professional before trading or investing. Opinions are given based on widely-accepted methods of technical analysis other methods of analysis. No specific recommendation is given to buy, hold or sell of these markets/securities or exchange traded funds related to these markets.

You agree that Aman Agrawal, Stocks by Aman, or anyone associated with them SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES.