Bank Nifty and DLF Trading Levels

By | October 11, 2011

Don’t spent all your time admiring the fancy tools in the magazine.First learn how to use the basic ones well. It’s not the size of your tools that counts but how you use them.

Keep it simple. Simple time-tested methods that are well executed will beat fancy complicated method every time.

Bank Nifty

Bank Nifty respects both trendline support and resistance Yesterday Long trading level was 9042 and resistance at trendline. BN made high of 9190 and unable to cross trendline resistance.

Today we will have a gap up opening above the resistance line, so on downside 9190 will become the support now.

Above 9332 Gap filling till 9420 will take,Hence above 9332 watch out for violent moves.

Buy above 9240 Tgt 9284,9332 and 9420

Sell below 9120 Tgt 9037,8970 and 8913

 

 

DLF Limited


 

DLF has been on a Mini Bull run from low of 196 till high of 229. This move is backed by volumes but concern is negative divergence in RSI.

Divergences should never be taken as alone we need to get the confirmation by price.

Litmus test of DLF will come today at 231 level. above this fire works will continue and below this the divergence will come to play and pullback till 215 will come in coming 1-3 days.

Buy above 231 Tgt 234,237.8 and 242.5

Sell below 224 Tgt 220,217.3 and 213

 

13 thoughts on “Bank Nifty and DLF Trading Levels

  1. Bramesh Post author

    Only way to get your confidence back is to trade.

    My best wishes for your Job search.

    If you want to be successful trader trade only in Nifty or any Stock. Do not keep on changing stocks daily.

  2. pratik

    thanks sir but i m not trading bz i have knowledge but do not have money bz i lost in past so do not hv courage to loss more even i m right i m not feeling to trade bz i lost my courage sir. as of now i m student of cfa when i got the job i’ll start trading.

  3. Bramesh Post author

    Keep your Good Work going and make money

    Rgds

  4. pratik

    sirji today rel capital made low 337.4 and zoom i wrote y’day and also sir ranbaxy again hit 510 low today but i think this will break today if not than go long again cmp 513 and also sir reliance hit 2nd time 825 and trading @ 842 and if it close above 840 than another new bull phase starts with sl of 840. what u say……

  5. Bramesh Post author

    Dear Pratik,

    I trade only In Nifty. I just track stocks for Blog update.

    Rgds

  6. pratik

    sir i want to know u r full time trader or doing job also?
    according to me reliance capital will move up tomorrow with sl of 337 what u say sir.

  7. Bramesh Post author

    Hi Madam,

    We can never predict gap up and gap down as these are basically news driven events but we can make sure we use Gap trading in our favour based on our Trading system.

    I would be covering as a part of our course as and when we come to positional trading.

    Rgds

  8. mitu

    Hi,
    Can u elaborate on how to foresee/predict gap up/down?
    I have been watching your blog and admiring this.

  9. pratik

    also want to add if ril close above 840 it will go further up side and also i read in one book if any stock made high today and tomorrow the low of that stock is same than it will go up like y’day happend in lt y’day high of lt was 1400.75 and today low 1401 lets see what happen if market give support both stock will rock ….. what u say bramesh sir…. waiting for reply……

  10. pratik

    good analysis sir,
    according to me ranbaxy made double top @ 524 and
    double bottom @ 510 now its trading @ 520 lets see if it close above 524 bulls may come. and may reach at 540. what u say sir……

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