NIFTY 11600 25 APRIL PUT ACHIEVED 1ST
TGT 116 BUY GIVEN @ 101 YESTERDAY
Bears continued to grip
the markets…!!!! Thursday’s Lackluster trading session ended on Negative Note. Nifty
toggled between gains and losses on Thursday amid cautious trade, tracking weakness
in Asian peers on concerns about global economic growth among traders. The
market cracked heavily in trades today on account of March quarter
earnings of TCS & Infosys due tomorrow 12 april 2019. For most part of the
day, the sensex & nifty fluctuated between gains and losses and the Sensex
swung at least 10 times between the positive and negative territory. The Sensex
rose 22 points to close at 38607. The Sensex moved in a range of 135 points,
between 38649 on the upside and 38513 on the downside. The Nifty advanced 12
points to end at 11597. The Nifty touched 11604 at the day's
strongest point, and dipped to as low as 11566 during the session.
Nifty is still in a
consolidation range and support lies around 11570 -11550 levels. Going ahead,
this support zone would be closely watched by the investors. A sustainable move
below this would result into an extended correction. However, in my sense, Nifty
would probably move higher and immediate resistance is now placed in the zone
of 11630 - 11670 levels.
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Resistance: 11630, 11670, 11700
Support: 11570, 11550, 11500
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