Finally NIFTY touches our 11550 demand zone. Nifty making complex sideways correction after making five wave up rise from 10586 to 11761.
Last many days in our reports we are highlighting, market in sideways zone but in bullish frame. The hot money which pursuit the entire rise is now looking to exit at whatever level. We believe, NIFTY has seen its good days of rally. Now till 11761 not broken, this sideways market will persist.
Catchcash suggestion, Buy on dips and sell on rally. But don’t hold your trade, once u has first sign of NIFTY pausing after rally. Most likely it again sold.Watch out of 11550 level as closing basis. Avoid positional trade. Play for intraday.
Buying in 11500-550 zone, selling at 11640-11670. SL 11500.
BANKNIFTY DAILY REPORT 09-4-2019
BANKNIFTY yesterday too comes to its demand zone of 29880-29950. Like NIFTY, BANKNIFTY making complex sideways correction after making five wave up rise from 26540 to 30679. Huge 4000 point rally.
Now Entire market is gone into sideways zone, the news of RBI rate cut too factored in. The BANK NIFTY now in Buy on dips and sells on rally zone. The newer lows are difficult to come, but sharp buying will emerge after few consolidation.
Catchcash suggestion. BUY on dips for selling on top, when rally u feel like banknifty is failing to rise.
BANKNIFTY buy around 29650 ,sl 29500 for 29900-30050.