Nifty Daily Technical Report: 9th August 2018

Insignia Consultants

New Delhi

Thursday, August 09, 2018

TIME: 09:32 AM IST

NIFTY DAILY TECHNICAL REPORT

Current Level: 11471.90

Support: 10325.50-11368.10-11411.30-11453.90

Resistance: 11488.60-11512.70-11531.80-11613.70

  • Immediate resistance is at 11488.60. There will be another wave of rise over 11488.60 to 11531.80 and 11613.70.
  • Corrections upto 11360.10 will be apart of the ongoing bull rally.
  • Momentum is bullish. Look for signs of correction towards close.

IMF long term growth forecast for India is nothing new. In the long term, stock markets are bullish. Playing a T20 match in stock/indices is not an easy thing. Right now everything is bullish. Tomorrow’s closing is very important from a technical perspective. It remains to be seen how the stock markets react to negative news which at the moment is not there.

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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