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 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 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