Volatility is on the cards of expiry, But keep on moving with Buy on Low Strategy at support level.

As mentioned in our previous report, The US Fed decision of keeping the interest rate unchanged will give buy on low a profitable move for investors and traders, Seems to resulted in highly profitable for our Clients and Readers.

Nifty CMP 8831.55 , registered a gain of 51.70 points on WoW basis. Previous week Nifty Fifty index opened up on positive note at 8788.45 with gain of 8.60 points and made weekly high of 8893.35 and weekly low of 8757.30 respectively.

Coming week we have expiry as the major event for the market.

On Chart:- Short Term basis market has sideways movement and it trading range has been now narrowed down. So volatility is something that is going to be on cards for the coming week but Keep move on with the strategy of buy on low if nifty continue to hold the support level of 8750 and 8640 for the coming week. The market have crucial resistance at 8905 and 8985 respectively for the coming week.

For coming Monday Intraday levels for Trading is as follows:- support level at 8810-8780 – 8750 and Resistance level at 8850-8875-8905.

 

 

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Interest rate unchanged by US Fed may give Buy on low a profitable move for traders and investors

Nifty fifty index drag down by weak global cues lead to shut shop at 8779.85 with loss of 86.85 points on weekly basis. Previous week nifty fifty index shown gap down opening at 8732.95 with loss of 133.75 points and made weekly low of 8688.90 and weekly high of 8847.65. Last trading session give some recovery on account of rising expectation of rate cut by the Indian central bank.

For coming Week, Event to be focused is US Fed Meeting for increasing interest rate but for now the possibility is comparatively low with respect to December month meeting.

On charts Nifty index is continue to trade in rising trend channel so buying on low strategy may be apply if nifty continue to hold important support level at 8680-8540 for the coming week. Nifty have crucial resistance level at 8860-8980, Selling on these levels may not be ruled out on account of profit booking.

For coming Monday,traders should keep the below level in focus for day trading. Nifty may hold support at 8750-8720-8680 and have resistance at 8790-8820-8855.

 

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