Nifty Swing Trade:
As per two day swing trade currently it is in buy mode and the trend will reverse on move below the 3330 level (future). If NF goes below 3330 it has chances of moving towards 3158 and there after 2951 The points being discussed in the swing trade are that of the future.
Current trend – buy ( generated at 3140)
Reversal Value - 3330.
Bank Nifty
Current Price - 4983(future)
Current Trend – buy
Reversal Value - 4910
Nifty is unable to sustain above the 200 day moving average giving an indication that, indices might move down before making any attempt to conquer 200 Day EMA.
As per pivot chart the following is the indication
Nifty current trend – down
Reversal only on close above 3431
Bank Nifty – neutral with down ward bias
Shorts can be initiated with a stop loss of 5072
M.Sri Mahidar
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