Thursday, November 15, 2018

NIFTY VIEW & OPTION CALL PUT TIPS FOR 16 NOV 2018

NIFTY TODAY

Thursday belonged to the bulls…!!! Bulls took the charge on the d-street & took nifty above 10600 mark.  The benchmark indices ended on positive note with Nifty managed to close above 10600 level. After a subdued start the market gained some momentum supported by strong rupee and positive Asian peers. The Sensex was up 118 points at 35260, while Nifty was up 40 points at 10616.

NIFTY TOMORROW

Levels around the 10700-10725 zone may now provide tough resistance to the index, while the 10550 level is likely to act as a strong support. The index has broadly negated the formation of lower highs and lower lows of last six weeks and closed above multiple hurdles in the 10650 -10680 zone. The index needs to hold above 10680 to witness an upward move towards the 10750 mark. Downside support has shifted higher to 10550 level from 10500.
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Resistance: 10700, 10750
Support: 10550, 10500

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