24 July 2018


Bulls continued to rule on dalal street & took the nifty below 11150 mark on 2nd day of expiry week in line with global market, which too climbed for a third day in the row after China indicated that Beijing would take steps to give a stimulus to its economy. The Sensex climbed 106 points, or 0.29 per cent, ending the day at the fresh peak of 36,825.  Today nifty future has started the day from 11109 made a high of 11152 and low of 11098 and finally closed at 11140 up by 40 points.
all eyes are on RBI meet that is held on Wednesday Aug 1 2018, and expect some skepticism if the rates are hiked. Nifty has reached closer to the immediate and crucial hurdle of 11200, and a decisive breakout will trigger fresh surge ahead. But, we're in expiry week so volatility tends to remain high. We suggest maintaining positive yet cautious approach in the nifty future, considering the mixed sentiment. Traders should focus more on the money management aspects and avoid taking unnecessary risk. The 11225 and 11255 levels may act as immediate resistance levels for Nifty, while supports may come in at 11075 and 11025 levels.
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Resistance: 11200, 11235, 11285
Support: 10950, 10900, 10850

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