The Banknifty today opened very weak ie.gap down opening at 11735 and that was also the days high but this level it did'n't stand just fell down from the opening we went short.Today we made 145 points in three trade without any sl hit all our targets were achived in 5-10 mins time.A day was fruitfull,in the sense we gained without much strain as we could predict the level and went short/long accordingly.
The banknifty now took support in 11440 level.Today the days low was 11455.if 11440 break down tomorrow we have minor support at 41o both these levels broken it may free fall to 10900 levels soon.On the other hand considering todays closing ,the last traded price was 11514 so if open in gap up above 11580 may take it to 11700 levels.
The Nifty some what struck in range and a jump up also possible from the current level as the past 5 days it seems in a consolidation mode.
Many mid-caps stocks are available at new lows....This happening due to the Margin pressure of many financial institution and the fear of correction among traders made to sell and the selling pressure is heavy many fell down already.The real investors need to buy good value stocks which is now undervalued.Its a boon time for investors..As every other people sell out of fear we can buy it for longterm.
ReplyDeleteCipla Ltd is currently trading at Rs 490.6, down by Rs 13.5 or 2.68% from its previous closing of Rs 504.1 on the BSE.capitalstars