As per the prediction NIFTY got trapped in the range of 5530 - 5550....If you wanna trade at these levels it is always advisable to trade by first exiting the banking sector stocks and move to some inexpensive sectors...The bullish channel of NIFTY remains till 5600 - 5620 levels..but dont expect it to cross that level with a good confirmation....
NIFTY is trading below its 20 day moving average.
As the futures expiry is on 26 th August and i expect some selling to happen....If you see some buyig interest you can see in RIL and that too short covering....
Dow jones is making new low's and is trading at a month's low....
Trading strategies
If you still have any positions in any stock (other than that i've already mentioned) it is always better to have one put (5200, 5300) and then trade your stock
It would be a contrary to other analysts ...but above 5650 levels i expect a bubble and if it happens banking sector would lead that....
Hope it wont happen and if NIFTY gives a good correction and form a base at 5350 -5360 levels then all s well.....
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