Nifty september futures turned to positional buy mode and currently the support zone come near 5264 zone. Reverse your position to positional shortly if the support zone breaks on the hourly charts. On Contrast Bank Nifty still on the positional sell mode and trading very close to the resistance zone 9039.
Few Key points to remember
– Huge volatiltiy in the India Vix Movement for the past three days. And the volatility is likely to come down in the upcoming days very slowly.
– Huge Price divergence now between nifty and bank nifty. Bank Nifty is a underperforming nifty heavily for a longer period of time since Apr 2013.
– Now the price divergence is now built between Nifty and Reliance where Reliance is likely to outperform Nifty
For SIP investors can invest in Reliance with base support coming around 760. SIP investing should be dumped if 760 level breaches on the closing basis.This investment decision is based on the reliance weekly intratrend charts adhere to the rules.