Nifty is in spitting distance of 11500.
On intraday basis, Nifty Futures went up to 11500 and came back.
What else happened in the market?
Here’re the highlights of the day’s trade:
- After yesterday’s minor correction, Nifty surged today and opened gap up.
- It opened at 11436 and made a low of 11433.
- It went up to 11485 and closed at 11470.
- Bank Nifty also opened gap up.
- After yesterday’s close at 27826, it opened at 27977.
- During the day, it made a high of 28176 and closed at 28128.
- Sun Pharma continued its good run after the breakout above 580.
- SBI made a late surge of 3%.
- HUL went up more than %.
- Auto stocks were down marginally.
What’s next? Will we get to see 11500 on Monday?
Here’re top trade ideas:
- Considering today’s strength, Nifty may open higher.
- You can sell OTM put to benefit from the move above 11500.
- 11500 is a major resistance.
- If it crosses it, it will cross it with volumes and will move upwards quickly.
- So be prepared to go with it.
- Bank Nifty may turn out to be a laggard because Rupee is hovering at 70.
- Keep it up till you see a close below 9-day EMA.
Trade wisely and trade safely with stoploss and target. There is always a next day!