A lackluster trading
session ended on flat note. Nifty opened
on a positive note, but failed to sustain levels above 11900 and corrected in
second half of the trading session & closed the day below 11850 at 11841. Healthy
environment was developed ahead of the G20 meet. Today we have a pause in the
momentum awaiting its final outcome this weekend. This hope and positive trend
will continue in the short-term supported by domestic tailwinds like budget
stimulus & Q1FY20 results.
Going ahead Nifty is expected to take immediate support at around 11825 level, which has the highest open interest concentration in put series. On the upside, Nifty will form bearish harmonic gartley pattern at around 11925 level, which may act as an immediate hurdle. The broader range for Nifty is expected to be 11775 -11980 till the upcoming event.
Going ahead Nifty is expected to take immediate support at around 11825 level, which has the highest open interest concentration in put series. On the upside, Nifty will form bearish harmonic gartley pattern at around 11925 level, which may act as an immediate hurdle. The broader range for Nifty is expected to be 11775 -11980 till the upcoming event.
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Resistance: 11825, 11775
Support: 11925, 11975
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