NSE Defty index (Dollar weighted index for NSE Nifty, so here nifty is moving lower as well as INR (Indian Rupee) is moving lower hence the portfolios of foreign investors (FII) are suffering much loss then Indian investors, as most of the foreign players use NSE Defty as their benchmark index for performance. Today I am seeing that NSE Defty has been near its support zone of 2960-2980 I am ... [Continue Reading]
Time to Buy Bank Nifty, Technical Bounce in few Sessions
Bank nifty future broke below 9000 level on may futures contract, but as I switch to charts I see 9000 level is 61.8% Fibonacci support level on daily charts and so I am waiting for execution of long positions in BankNifty future around 8980 - 9000 range for positional targets as 9325 and then 9400 levels, with placing stop losses just under 8925 level on 2 days closing basis. Check below chart of ... [Continue Reading]