Asit Baran Pati, a noted trader who appears regularly on CNBC Awaaz, has made a confident prediction as to the levels that the Nifty and Bank Nifty are likely to witness over the next few days.
He has stated that the Melt up is not Done Yet. "Lets not have a target, but 18k is in radar now as long as we are above 16700-800 zone and ofc unless we have some Corona related events or some other developments," he has said.
He has also stated that the Bank Nifty is spreading its wings and the next possible target may be 38000 in a week or so as long as we are above 36600. Kotak might be the game changer for Bank Nifty and should be bought on dips.
He has also pointed out that the overall Chart and Supporting tools suggest strong momentum Break Out for a Target of 37,250 / 37500 till the Bank Nifty is above 36,600.
The possible support and Resistance levels for BN are 36,710 36,540 and 37,250 37,430, he has added.
Holding support of Very short and ST Avg. (5/8/13) and 21 DEMA between 36,540 36,120.
For Nifty: Expected Trading Range between 17,335—17,180.