Thursday, January 17, 2019

NIFTY PREDICTION & FREE OPTION TIPS FOR 18 JAN 2019

NIFTY TODAY
Thursday rangebound trading session has ended on bullish note  tracking tepid Asian cues & ahead of December quarter results from market heavyweights - Reliance Industries and Hindustan Unilever . The Sensex ended at 36374, up 53 points, while the broader Nifty settled at 10905, up 15 points.
NIFTY TOMORROW
Despite the rangebound movement, Nifty has again managed to close above 10900 which indicate that the triangle breakout is still intact and Nifty has a potential to sneak above 10950 mark. However, we also maintain our stance that 11000 still remains a very strong hurdle for the bulls. Thus we would advise traders to start booking profits once index arrives near that zone. As of now, the support of 10800 has now been shifted to 10850. Only a move below the same might dwell the ongoing momentum. For the coming sessions, 10960 and 10990 would remain an intermediate resistance & support respectively for the markets.
Currently, we advise traders to trade with a positive bias but avoid any overleveraged positions and follow strict stop loss. Nifty is trading range-bound in between 10750 to 10925. Any movement above 10,925 can be an indicator of the Bull Run at the Indian indices or below 10750 levels a run for the bear. However, I will bet on the same range movement of the Indian markets till elections are over. Much will depend upon the Indian Lok Sabha results.
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Resistance: 10950, 11000
Support: 10850, 10800

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