Nifty Daily Technical Report: 10th August 2018

Insignia Consultants

New Delhi

Friday, August 10, 2018

TIME: 09:46 AM IST

NIFTY DAILY TECHNICAL REPORT

Current Level: 11459.50

Support: 11272.60-11320.20-11371.60-11423.90

Resistance: 11488.60-11517.40-11546.30-11668.70

  • Immediate resistance is at 11488.60. There will be another wave of rise over 11488.60 to 11546.70 and 11621.10.
  • Sellers/bearish trend will be there below 11423.90.
  • Look for signs of profit taking before the weekend.

Nifty will correct if and when global economic fundamentals are in charge. Momentum is bullish. One needs to look for signs of profit taking before close. There is still fear among the investors. Any bad news can result in a quick sell off. Use trailing stop losses if you are a momentum trader.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, crypto currency, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Prepared by Chintan Karnani

Disclosure: Directors, employees, owners, by whatever name one can call, make delivery based investment in specific stocks. No one does any trade in nifty futures and even in futures and options.

NOTES TO THE ABOVE REPORT

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

Indian Standard Time (IST): +5:30 GMT

Current Market Price (CMP)

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