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Bank nifty trading with high volatility from few days. Bank nifty made a lower top and lower bottom and now trading in a range. Next week trade with caution as gujarat election results are awaited. Can go long above yesterday's high of  25600 with a target of 26000.

Nifty is trading in range of 10050 - 10430 with high volatility.Positional move can happen only out of this range. But Nifty looks bearish as lower top and lower bottom is in place .But need to wait for confirmation. Next week should be traded cautiously as gujarat elections results may impact the market.

NIFTY FROM TWO DAYS IS TRADING VERY CLOSE TO ALL TIME HIGHS BUT UNABLE TO CROSS IT. NIFTY IS BULLISH TILL IT IS TRADING ABOVE 10000 LEVELS. ANY DIPS CAN BE CONSIDERED AS A BUYING OPPORTUNITY.

Broadly nifty is in a range of 9700 - 10000. It is also in a more smaller range of 9880 - 10000. Nifty is trading sideways with one up and one down day making trading extremely difficult. No directional call can be taken on nifty until it is out of this range.

Nifty is buy on all dips till it holds 10000 levels. Next momentum can come in nifty only after it breaks its previous high of 10140. Break of 10000 may lead to some correction.

Nifty makes a hanging man pattern on daily and a doji on weekly charts. Whole week it traded in the range of  9800 -9930  holding on to gap support. Bulls and bears are in struggle and sideways action may continue in this range. Hanging man pattern indicated bulls in danger. Will have to watch this week for further action as it is also expiry week.     DAILY CHART WEEKLY CHART

SELL HINDALCO JULY FUTURES BETWEEN 208 - 209 WITH A STOP AT 211 FOR A TARGET OF 204 AND 200. SELL CENTURY TEXTILES JULY FUTURES AROUND  1160 WITH A STOP AT 1180 FOR A TARGET OF 1130 AND 1105. SELL SBI JULY FUTURES BETWEEN 293 - 294 WITH A STOP AT 298 FOR A TARGET OF 284.

Nifty made a doji or spinning top with a decent volumes. Nifty opened gap down and traded negative whole day with bears in full control. Nifty traded well into the gap of 9830 - 9855. Nifty closed at the lower end of the gap. Break of today's spinning top low may cause further correction to the levels of 9680 which is 20DMA. Holding these levels may see some sideway action until highs are taken decisively.

Bulls are in full control which may take the index to 10000 very soon. Last week nifty did 300 points making new life highs. Nifty is now buy on all dips till the levels of 9830 -9800 levels. Nifty has a gap between levels of 9830 -9855.

BUY APOLLO TYRES JULY FUT @ 252 WITH A STOP AT 249 FOR A TARGET  OF 257.