Thursday, July 11, 2019

NIFTY BANKNIFTY TIPS TO TRADE FOR 12 JUL 2019

FOR  CALLS  JOIN US NOW WHATSAPP 9039542248
Bulls failed to retain control as Nifty failed to hold on to 11,500 on a closing basis while Sensex fell nearly 200 points in volatile trade. Sensex fell 173 points to 38,557 while Nifty closed 57 points down at 11,498. The index closed below 100-day exponential moving average placed around 11,500.The next big support for Nifty50 is now placed at 11,316, which is 200-day EMA. We advise investors to trade cautiously and wait for clear signs of a breakout for initiating long positions. Nifty formed a bearish candle but it closed above July 9 intraday low of 11,461 that suggests there is a possibility of a pullback. If the index breaks below this level then the selling pressure could extend towards 11,420-11,300, while a close above 11,600 could bull back in charge.
More about intraday tips on Google +

Resistance: 11600, 11650
Support: 11450, 11400


No comments:

Post a Comment