Trading limits for Nifty and Bank Nifty on 23/01/2019.  Taking Long / Short position depends on how the market moves.  Yesterday, Nifty and Bank Nifty reached our short target 1.

For 23/01/2019, If NIFTY Future trades above the crucial level of 10,923 long position can be taken or if it trades below the crucial level then short position is suitable for trade. Since the index is range bound and indecisive, one must trade cautiously.  Target and stop loss limits for both long and short positions are:

Long / Short	Entry Level	Target 1	Target 2	Stop Loss
Long	10,945	10,966	10,997	10,923
Short	10,901	10,892	10,849	10,923

 

If BANK_NIFTY Future trades above the crucial level of 27,505 long position can be taken or if it trades below the crucial level then short position is suitable for trade. Since the index is range bound and indecisive, one must trade cautiously.  Target and stop loss limits for both long and short positions are:

Long / Short	Entry Level	Target 1	Target 2	Stop Loss
Long	27,533	27,574	27,629	27,505
Short	27,477	27,450	27,381	27,505

 

 

Disclaimer:  Information provided on this website is free and does not constitute Trading advice. These are the possible limits for up and down movement of the index.  I am not a Sebi registered analyst or adviser. Traders are requested to do their own analysis & research before making any decision to  trade and also advised to get expert opinion before making decisions based on the information provided here.