Please see the support and resistance in the chart.
The nifty range is 11600 to 11800. PCR is also oversold so expecting one bounce in Nifty.
Support Levels are: 11600 and 11640
Resistance levels are: 11730 and 11800
The trend will be positive if Nifty will close above 11800.
Please refer my Nifty Posts on Friday. As I mentioned in that post-Nifty moved 190 points downside.
For tomorrow also my view is negative but if you are trading in intraday then don't think that you will get one-way fall. There is major support @ 11595 to 11610 and Major resistance @ 11685 to 11700.
Also If Nifty break 11590 level then doesn't think it will...
As you can see in the chart that reliance is in strong downtrend from the 1400 level. Also, there is a gap between 1278 to 1303. It is taking support from 1303 -1307 and show a bounce back. Also, there is a 100 DMA @ 1302. 1335-1340 is a major resistance and there is a huge OI in 1340 call writing. So it is difficult to sustain above 1340.
So now 1340 is major...
AS you can see in the hourly chart this stock is in strong downtrend from 1074 level on the hourly chart. If Ajanta pharma will not sustain above 980 on the hourly chart then it may test lower levels @ 920 and 900.
If it will sustain above 980 then also there is a major resistance @ 1000-1010 level.
In this scenario, the best way to trade is sell 1000 call.
Nifty was taking support @ 11850 which is 18th April high and also its a 20 DMA level.
Yesterday Nifty was not able to sustain above this level and closed below 11850. I think It's a first bearish sign.
If Nifty will not sustain above 11850-11870 then another lower range will open which is 11850 to 11750 (11750 is August 2018 High). If you see the intraday...
Micros and Global markets always impact on Indian stock market.
I am sharing some interesting data for Currency, Crud, DJI and Hang Seng.
USDINR give a breakout on yesterday. It may test 70-70.16-17.36 levels in the short term.
For the Brent Crud, $64 is major resistance. Above $64 it may be strong and below $64 it may test $60 - $58 levels.
After made an all-time high @ 31783 Bank nifty was taking support @ 30600 which is April 2019 high. On Monday if it will sustain below 30600 then it may test 30100 level. 30100 is a major support. If it will sustain below 30100 which is a gap up open level on 20th May then it may fill the gap and may test 29550.
Say YES in the comment if you have changed your...
I have shared a Buy idea in this stock on 2nd May @ 102 level. Today this stock made a high @ 136 and it is a clear breakout closing above 120 level. Still, it is a good chance for fresh entry after a breakout.
positional Short In NIFTY with the stop loss of 11930 for the target of 11750-11700
Please see the levels in the chart.
If you see the global market, hong kong market strong resistance @ 27150 and today it is not able to clear this resistance. Another side Dow has a major resistance @ 26150 to 26250, dow is also not able to clear its resistance.