NIFTY VIEW AS ON 6 OCT 2020 (Nearing Recent Resistance) and Swing Recommendations !!
Recently we have seen a good rally in NIFTY without any expected correction done since 3 days. It is consistently making new High without even getting close to our INTRADAY support zones. Such is the strength in NIFTY. Levels to watch out for
Intraday Support Zone is 11520
Intermediate Support Zone is 11330-11345
Long Term Support Zone is 10870-11035
Overall Conclusion : Nifty does not look like giving up the rally. But we are holding our views that this rally is quicker than expected and we are also reaching to our recent HIGH around 11800. There are few gaps left out which we cannot ignore that NIFTY may retrace upto. However breaking above 11800 will reduce or delay the possibility of filling those GAPS. We will see whats next...ensure to follow the above levels.
SWING RECOMMENDATIONS (VALID FOR ONE DAY)
JUBILANT FOODWORKS (Buy at 2419 Stop loss 2314)
AMARAJA BATTERIES (Buy at 755 Stop loss 738)
BALKRISHNA IND (Buy at 1481 Stop loss 1428)
****Trigger Terms and Conditions****
1) Recommendations are valid only for tomorrow if not triggered ignore
2) Gap up opening above Buy price will invalidate the set up
3) Trade if triggered should normally end in a week
4) Targets are not pre-determined (exit will be announced)
5) Trade should be considered only for Cash Segment