Another volatile session that may have killed many investors!
It was very scary session in the recent times.
First Nifty hit day's high at 4817 and hit low of 4765, rise again to hit high of 4821 again fell down and touch new day's low at 4740.
It was such a session that nobody was able to take a clear stance.
Our mentioned pivot level at 4777 was proved to be important and 3 times this level was breached on either higher or lower side.
Today the same level is placed at 4768 and if level is breached on either side it may give opportunity to trade long or short.
If Nifty crosses 4783 level on the higehr side then it may test levels of 4802 and 4824.
Near 4824 we may again see big sell-off and one should stay cautious at this level.
On the lower side Nifty have strong support at 4715 and this can be a turning point in case of weakness.
From 4715 Nifty may see big selloff till 4660 level or we may see bounce back towards higher levls.
(More details to our subscribers!)
Its best to trade for the day and avoid taking positions for the next day as market is very volatile.
| Important Nifty Levels for 11th Feb | ||
|---|---|---|
Nifty Pivot | 4768 | |
| Support | ||
| 4740 | 4715 | 4694 |
| Resistance | ||
| 4783- | 4802 | 4824 |
Level of 8232 is very crucial for BankNifty and if we see a fall below it BankNifty may all the way fall down to 8070 and below this level next support is only at 7930.
We are currently in weak market and the above mentioned levels are possible in the coming weeks.
| Important BankNifty Levels for 11th Feb | ||
|---|---|---|
BankNifty Pivot | 8320 | |
| Support | ||
| 8256 | 8212 | 8162 |
| Resistance | ||
| 8348 | 8385 | 8445 |
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