Thursday, April 11, 2019

NIFTY OUTLOOK & FREE OPTION TIPS FOR 12 APRIL 2019

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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