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Trading Plan: Will Nifty be able to maintain the level of 23460, will Bank Nifty get support at 49650 amid consolidation? – trading plan will nifty be able to maintain the level of 23460 bank nifty will get support at 49650 amid consolidation

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Nifty Trading Plan: On January 6, there was a sharp decline in Nifty and Bank Nifty and it closed below 200 DEMA (23,700). During this period, there was negative crossover in momentum indicators also. This made the beginning of the week disappointing. Therefore, as long as Nifty remains below 200 DEMA, a fall towards 23,460 (December low) remains possible. However, in case of short-covering, higher levels of 23,700 may be an immediate target, followed by 23,900-24,000. Immediate support for Bank Nifty is at 49,650 (August low). If the index breaks out and closes below it, selling pressure could increase rapidly. Market experts say that immediate resistance is visible on the upside in the zone of 50,300-50,500. After this the next registration will be at 51,000.

strategy for nifty

Jai Thakkar of ICICI Securities Says that for Nifty there is resistance at 23,850, 24,000 and support at 23,460, 23,263. Sell ​​Nifty futures on upside near 23,750, keep stop-loss above 23,850, target 23,263 and 23,000.

Anand Rathi’s Jigar S Patel Says that for Nifty there is resistance at 24,000, 24,200 and support at 23,500, 23,300. Buy Nifty futures near 23,600, with stop-loss of 23,300, target 24,200.

Stock Market Today: The impact of these news will be visible on the market today, take a look at them before taking any trade.

strategy for bank nift

Jai Thakkar Says that for Bank Nifty, there is resistance at 50,500, 50,750, 51,000 and support at 49,650, 49,000, 47,500. Sell ​​Bank Nifty futures if it rises near 50,500, with stop-loss of 51,000, target 40,650, 49,000 and 47,500. Alternatively, sell Bank Nifty futures below 49,650, with a stop-loss of 50,500, targeting 47,500.

Jigar S Patel Says that for Bank Nifty there is resistance at 51,000, 51,300 and support at 49,500, 49,600. Buy Bank Nifty futures near 49,900-50,100 zone with stop-loss of 49,500 and target of 51,000.

Disclaimer: The views expressed on Moneycontrol.com are the personal views of the experts. The website or management is not responsible for this. Money Control advises users to seek the advice of a certified expert before taking any investment decision.

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