18 April 2018

NIFTY BANKNIFTY TIPS FOR 19 APR 2018

19 april 2018  would be good voaltile as well Nifty future failed to hold 10596 & closed at 10550. Nifty continued with its winning momentum, and ended  session in the green Though the session ended with modest gains, it saw a V-shaped intraday recovery while the Nifty tested its important near-term resistance. 
For tomorrow , as mentioned in our previous note, the levels of 10,550-10,575 will continue to pose immediate resisitance. Though underlying buoyancy remains very much visible, the market may continue to consolidate a bit more before a clear upmove continues. The Nifty is adding open interest with each upmove, this shows buoyant intent of the market participants. However, given the overstretched nature of few oscillators and given the present structure of the charts, some consolidation in form of rangebound movements with limited downsides remains imminent. 
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RESISTANCE: 10550, 10600
SUPPORT:  10400, 10350

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