Tuesday, August 6, 2019

NIFTY VIEW & OPTION CALL PUT TIPS FOR 07 AUG 2019

TO GET SUCH CALLS LIVE JOIN US WHATSAPP 9039542248
Bulls showed some strength after hitting the support area of 10800, but failed to give closing above the 11000 mark. Market recouped Monday’s losses aided by broad based buying across sectors supported by FMs decision to have a discussion with FPIs amid continued outflow of liquidity. Global cues were positive due to China’s step to prevent further slid in yuan, which could ease trade war concerns. While hope for a 25 basis point rate cut in the RBI meet tomorrow provided some support to the trend. Nifty managed to hold Monday’s low and the immediate support at the 10800 level, and then extended its gains towards the 11020 level. The index respected the 10800 level, which is 61.8% retracement of the entire upward move from 10004 to 12103 levels.
Nifty showed strength after hitting the support area of 10800, but failed to give closing above the 11000 mark. Immediate hurdle for the index is near 11050-11100 zone and support is in 10875 -10825 zone. Immediate hurdle for the index is near 11035-11075 zone and support is in 10875-10825 zone.
More about intraday tips on Google +
Resistance: 11050, 11100
Support: 10875, 10825

No comments:

Post a Comment