Index levels & Views for 9 Sept
Nifty Spot closed at 10946
Resistance at 10990/ 11040
Support at 10890 / 10860
BankNifty Spot closed at 27247
Resistance at 27440 / 27590
Support at 27160 / 27040
View: - Nifty, BankNifty were in NR7 on Friday. Trade is to trade in direction of breakout. I will use 1st 5 min candle as reference to trade the breakout. If crosses high then i will buy with DL as SL. I will not be looking for a first trade as Sell trade.
Expecting some more short covering in Stocks before any sort of dip in markets. If there is a change in view, i will update.