Wednesday, January 23, 2019

NIFTY PREDICTION & FREE OPTION TIPS FOR 24 JAN 2019

MINDTREE STRANGLE STRATEGY BOOK PROFIT


Fast-moving consumer goods (ITC) & concerns about global economic slowdown changed the direction of market on Wednesday.  The Sensex came down 336 points to settle at 36108 while Nifty ended below 10850 level at 10831, down 91 points. Investors are wary of a mixed government, as reforms would be tougher to go through, and it could also lead to a loosening of monetary policy.
We can expect the volatility in the stock market to increase as we inch closer to the interim budget. The interim Budget 2019 is scheduled to be presented by the government on February 1, 2019. Nifty has been struggling to surpass the 10990 level for the last nine weeks. The index’s structure, suggest that it still has potential to stretch towards 11,000-11050 range to complete its last leg of the Ending Diagonal pattern. But such a move is unlikely to be a smooth one. The recent swing high of 10985 is seen as key resistance while 10825 -10,800 would offer ample support.
More about intraday tips on Google +
Resistance: 11000, 11050
Support: 10825, 10750

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