Technical chart in Daily interval shows Nifty is near lower Bollinger band. Yesterday Rupee hit low @71.98 and recover which help Nifty to sharp recover in second half. Now in Hourly chart, Fibo retracement indicating upmove upto 61.8% level which is @ 11509. So watch if Nifty able to sustain over it then further upmove upto 11553 is possible.
Nifty closed at 11,520.30 on Tuesday (4th Sep). According to Pivot charts, the key support level is placed at 11,477.23, followed by 11,434.17. If the index starts moving upwards, key resistance levels to watch out are 11,582.93 and 11,645.57.
NIFTY analysis for 4th Sep – NIFTY closed on 3rd Sep in very unexpected way. As per Daily Chart it has built bearish candle.
Technically from here market is going to follow down trend however, at the same time lot of fresh PUT and CALL writing happened which is sign of bullish, hence Technically market is weak but as per data it is still strong.
So if you have any position in any option and future then wait for 4th Sep market movement.
NIFTY Analysis for 1st Sep, NIFTY is direction less , strong support is 11600 and resistance is 11800 if NIFTY close below 9 DMEA then there will be Sharp down side expected, if trade above 11700 after 12:30 for more than 1 hrs then NIFTY will go up.
Buy WIPRO @ 306 SL 294 TARGET 318.
NIFTY analysis for 31st AUG, 2018- NIFTY having strong support at 11600 and resistance at 11800, if NIFTY trade above 11700 after 12:30 pm on 31st AUG then buy NIFTY SEP 11800 CE.
Tip of the day!
Buy ITC @ 322 SL 310 Target 328.
NIFTY analysis – On 28th, August 2018, we have notice NIFTY touch high of 11760 and then market has consolidated due to profit Booking and still NIFTY manage to hold 11730 level , NIFTY can see 11800 and 11850 level on 29th August and if Market goes down 11700 and 11600 are strong support. Still I advice don’t short NIFTY.
JSW STEEL LTD replace LUPIN on NIFTY 50 from 28th Sep expecting sharp positive movement in this share.
Buy JSW Stell at 370
Currently it’s trading above 5,9 and 21 moving average.
The levels of 11,620 and 11,650 is likely to act as immediate technical resistance area. Supports may come in lower at 11,510 and 11,465 zones.
Buy Amrutanjan @ 348 SL 316.45 Target 361
The levels of 11,620 and 11,655 will pose technical resistance to the Nifty on Friday.
Supports have moved little lower against the current closing levels, and they exist at 11,535 and 11,480 levels.
Market will move at least level 11750 if cross 11600 and sustain for longer period.
Nifty closed at 11,570.90 on Tuesday. According to Pivot charts, the key support level is placed at 11,546.4, followed by 11,521.9. If the index starts moving upwards, key resistance levels to watch out are 11,588.6 and 11,606.3.
Buy Nifty Aug 11800 @ 7.40.
Buy L&T Finance above 186.
Wait time : 1 month