Although Nifty maintained its positive momentum but markets witnessed some head winds at higher levels and thus we reiterate our view that Nifty is approaching crucial resistance of 11380 level which is the 78.6% retracement level of the previous fall. Thus going ahead 11300 – 11400 might act as a strong ahead for the bulls. Going ahead, only a move above the same zone might attract more buying interest.
On the downside 11270 might act as an intermediate support for the coming sessions. A move below the same might dwell the ongoing momentum for the time being. As of now we maintain our positive stance for the markets but at the same time advice traders to start booking their leveraged positions.
Posted by Mehul Kothari | Published on 18-MAR-2019
Market Outlook NIFTY Trend Tracker
As per our previous reports we had a view that index Nifty is poised to retest 11200 – 11384 level. In yesterday’s session, Nifty sneaked above 11300 mark and registered an intraday high of 11320. Also, we have been stating in that Nifty Bank index is all prepared to reach its all – time high of 28389. Yesterday the index registered a new high. Now as shown in the daily chart of Nifty, it is evident that the index is very much near to 11380 level which is the 78.6% retracement level of the previous fall. Thus going ahead 11300 – 11400 might act as a strong ahead for the bulls.
On the downside 11180 might act as a strong support for the coming sessions. A move below the same might dwell the ongoing momentum for the time being. We maintain our positive stance for the markets but at the same time advice traders to start booking their leveraged positions.Disclaimer)
Posted by Mehul Kothari | Published on 18-MAR-2019
Market Outlook
NIFTY Trend Tracker
Yet again the index Nifty maintained its positive momentum but markets witnessed some head winds near 11450 mark which is the 161.8% Fibonacci retracement level of the previous move as shown in the chart. For further upside, Nifty would have to close well above the same for the momentum to continue. Going ahead 11400 – 11500 might act as a strong hurdle for the bulls. Thus, although we maintain our positive stance for the markets but advise traders to start booking their leveraged positions. On the downside 11300 might act as an intermediate support for the coming sessions. A move below the same might dwell the ongoing momentum for the time being.Disclaimer)
Share Market Today - 14th March 2019
Market Outlook
NIFTY TREND TRACKER
Although Nifty maintained its positive momentum but markets witnessed some head winds at higher levels and thus we reiterate our view that Nifty is approaching crucial resistance of 11380 level which is the 78.6% retracement level of the previous fall. Thus going ahead 11300 – 11400 might act as a strong ahead for the bulls. Going ahead, only a move above the same zone might attract more buying interest.
On the downside 11270 might act as an intermediate support for the coming sessions. A move below the same might dwell the ongoing momentum for the time being. As of now we maintain our positive stance for the markets but at the same time advice traders to start booking their leveraged positions.
Disclaimer
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Share Market Today - 13th March 2019
Market Outlook NIFTY Trend Tracker As per our previous reports we had a view that index Nifty is poised to retest 11200 – 11384 level. In yesterday’s session, Nifty sneaked above 11300 mark and registered an intraday high of 11320. Also, we have been stating in that Nifty Bank index is all prepared to reach its all – time high of 28389. Yesterday the index registered a new high. Now as shown in the daily chart of Nifty, it is evident that the index is very much near to 11380 level which is the 78.6% retracement level of the previous fall. Thus going ahead 11300 – 11400 might act as a strong ahead for the bulls. On the downside 11180 might act as a strong support for the coming sessions. A move below the same might dwell the ongoing momentum for the time being. We maintain our positive stance for the markets but at the same time advice traders to start booking their leveraged positions.Disclaimer)
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Share Market Today - 18th March 2019
Market Outlook NIFTY Trend Tracker Yet again the index Nifty maintained its positive momentum but markets witnessed some head winds near 11450 mark which is the 161.8% Fibonacci retracement level of the previous move as shown in the chart. For further upside, Nifty would have to close well above the same for the momentum to continue. Going ahead 11400 – 11500 might act as a strong hurdle for the bulls. Thus, although we maintain our positive stance for the markets but advise traders to start booking their leveraged positions. On the downside 11300 might act as an intermediate support for the coming sessions. A move below the same might dwell the ongoing momentum for the time being.Disclaimer)