Today Market

The market today tussle within 20 points.I found the nifty spot low is very low when we see the future's low.The spot low is 5203.55 where as future's low is 5222.00.Something is cooking!! or the real weakness is on in nifty.if nifty breaks the 5190.00 Level the correction may occur from there on.The bank nifty is not showing much swing as it used be...it was struck in 9220-30 level for a longer time.This shows ready to blast on either side,but as per the nifty , it is going to jump down.

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We have gone short in the opening itself and covered same in 9220level.Waiting for further positions Long/short we are yet unable to predict...

BANK NIFTY FUTURE

On Friday we gave tips for positional sell for our subscribers and few were gone short around 9290 level and this morning during market opening i asked them to cover it around 9150level.The banknifty future gave a great chance to cover the short and was in 9160 for a longer time all the people covered the short and booked a profit about 140+points.

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Today the market is weak only but it plays lot of tricks and hitting all the stoploss's.We are now keen in observing the facts.As nifty broke the strong supports levels>i.e - 5220 and 5190 level and that indicates a weakness in the overall market.

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The repo and reverse repo rate hike will have its own impact on the market as we have seen in the past including the US and Singapore markets.

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Important Note: i have recived a facts from my friends >>

Nifty Low is shown as '5180.00' its a false one and it traded low in '5206.00',

Similarly Banknifty Low is not '9126.00' it is actually '9153.00'

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The Post Effect of the Cup Formation

The Effect of the Cup Formation is now very clearly visible in the above shown chart.I.e -'Up Trend'.

Banknifty was in 9100 level during that time now it shoot upto 9300 level.The sell position has just reveresed to a buy mode after this cup formation.