Monday, December 3, 2018

NIFTY VIEW & OPTION CALL PUT TIPS FOR 4 DEC 2018

NIFTY TODAY
Market started the week on a strong footing with both the gauges closing higher, Sensex has ended at 36241 while nifty has closed at 10883. After trading around the flat line for a greater part of the session, equity benchmarks have ended in the green. The Nifty failed to close above 10900. Markets turned flat in the early afternoon deals on news reports of Qatar exiting the oil cartel OPEC in January 2019. 
NIFTY TOMORROW
It is important to take a note that there are many events lined up in the first half of December on the domestic as well as international front. Hence, we may see some volatility increasing in coming days. Traders are advised to trade with proper exit strategy & keep on booking profit. . Going by the ‘Gap Theory’, a breach of any major resistance with an upside gap is known as a ‘Breakaway Gap’ and is considered as a sign of strength. Hence, going ahead, we continue to remain upbeat and expect the rally to extend immediately towards 11150 – 11200 levels. On the flipside, today’s gap area of 10900 – 10850 is likely to act as a key support zone now.
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Resistance: 11150, 11200
Support: 10900, 10850

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