A professional trader isolates himself from the herd and has trained himself to become a predator rather than a victim. He understands and recognizes principles that drive the markets and refuses to be mislead by good or bad news, tips, advice, brokers advice and well meaning friends. When the market is being shaken-out on bad news he is in there buying. When the Herd is buying and the news is good he is looking to sell.
Bank Nifty Weekly charts are shown above.BN rose 8% last week.BN is now at an important resistance of 9200. 2 Close above 9200 will make the way clear for tgt of 9620 which is an important trendline resistance for this week.
Buy above 9200 Tgt 9295,9418 and 9620
Sell below 8954 Tgt 8862,8775 and 8662
HUL we covered few days before saying 374 to be an important support.HUL took support and again moved towards the lifetime high of 403,But unable to corss making a formation of double top.
Double top formation are bearish in nature.
Sell below 389.5 Tgt 387,382 and 374
Buy above 394 Tgt 397,400 and 404
Buy above 285.1 Tgt 289,292.5,296 and 300