"BUY YESBANK 160 JUN CALL @ 8.3 TGT 10.3/12.3"
Market was off bit
because of F&O expiry on May 30. The Sensex closed 247 points at 39502,
while Nifty was down 67 points at 11861. Nifty on Wednesday negated
the formation of higher lows of last three sessions and got stuck in the wider
trading range of the election results day. It failed to surpass the previous
day’s closing of 11930 and drifted towards the 11835 level. The
index got stuck in a 130-point range between 11,800 and 11,950 levels in last
three sessions and now needs a decisive range breakout to get some momentum in
the market.
Nifty formed a Spinning Top followed by a Hanging Man candle on the daily scale, which indicated that it has hurdles at higher end of the trading range. Now it has to hold the 11850 level to witness an upward move towards 11940 and then 12,000 levels, whiles supports are seen at 11750 and then 11650 levels.
Nifty formed a Spinning Top followed by a Hanging Man candle on the daily scale, which indicated that it has hurdles at higher end of the trading range. Now it has to hold the 11850 level to witness an upward move towards 11940 and then 12,000 levels, whiles supports are seen at 11750 and then 11650 levels.
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Resistance: 11940, 12000
Support: 11750, 11650
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