NIFTY PREDICTION & OPTION TIPS FOR 22 JAN 2019

Bulls marched up & took the charge in opening hours of market & took nifty above 10975 resistance level, but bears did not loosed the positions & recaptured there seat in the closing hours. Market sentiments were driven by positive Asian cues and the spike in Reliance Industries. After a flat start followed by marginal dip in early trade nifty rallied sharply and remained above 10950 levels for major part of the session to hit an intraday high of 10987. The nifty closed 55 points higher at 10961, the highest closing level since 19 December 2018.
The Nifty is still away 38 points from reclaiming 11000 and formed bullish candle on the daily charts. The rally to continue from here on is possible only if the Nifty decisively closes above 11000 levels, but the negative advance: decline ratio indicates some consolidation in coming sessions. However, a strong close above psychologically important resistance point of 11000 may warrant a huge short covering which can pull the indices to much higher levels towards its logical targets placed around 11150-11250 kind of levels. Though strong support can be expected in the zone of 10850–10800 levels, short term traders are advised to trial their stop loss level to below 10875 kind levels on closing basis.

More about intraday tips on Google +

DAILY RESISTANCE FOR NIFTY 11000, 11050
DAILY SUPPORT FOR NIFTY:  10850, 10800