The Nifty hourly charts as of now are in buy mode but since daily charts are in neutral mode so we have reduced buy on hourly.
The stop loss can be at 5930 levels.
The Bank Nifty is giving zigzag signals at these levels on hourly charts. It gave a sell signal on hourly in last hour of trading y'day but reduced to neutral now.
The daily charts of Bank Nifty are still in Lev sell mode but since the correction time is getting over I think that we can book profits on the Lev sell trade partially only.
I would also like to mention that there has been higher bottom formation in place for Nifty and Bank Nifty for last week. Although the upsides are critical resistances there can be some range movement till those are pierced.
Attached are the charts.
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