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manan
9810226906
Insignia Consultants
New Delhi
Monday, June 10, 2019
TIME 8:20 AM
IST
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NIFTY Technical
Report (weekly)
|
NIFTY DAILY
TECHNICAL LEVELS (Current price 11870.65)
|
||||||||||
|
S5
|
S4
|
S3
|
S2
|
S1
|
|
R1
|
R2
|
R3
|
R4
|
R5
|
|
11537.10
|
11617.15
|
11703.88
|
11743.23
|
11791.93
|
|
11949.37
|
11998.07
|
12037.43
|
12124.15
|
12204.20
|
|
All technical are for
reference only
|
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There will be more and more foreign portfolio inflows in
India is world experiences a recession. Indian economic growth will be better
than most of the nations. I am quite sure that the upcoming budget will create
more employment. Metals and energies have taken a knock down globally. One
needs to look for cues of trend reversal in this sector. Banks and NBFC are
great long term investors as the NDA government will totally clean up the mess
of the UPA government. The current banking and NBFC non-performing assets are a
product of ten years of UPA raaj. Sooner than later banking and NBFC sector
will roar again. India will see a lot of consolidation and mergers in the
banking and NBFC space. (I have personal investment in banks and metals sector.
I intend to remain invested for a few years).
Delay in monsoon arrival will only aggravate the woes of
rural India. Growth will be hurt if monsoon does not cover whole of India by
end June. On the global front, escalation of trade war can result in more
losses for Nifty if and when global factor dictate Indian stock markets.
Key weekly support: 11703.80
Key weekly resistances: 12037.40-12204.20
Crash or bearish trend will be there if Nifty has daily close
below 11700 for three consecutive days. One needs to remain on the sidelines
till Tuesday. I expect a firm trend to be there from Tuesday.
Happy
Stock Hunting
Disclaimer: Any opinions as to the commentary, market
information, and future direction of prices of specific currencies, 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
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information provided in this material; or in any delays, inaccuracies, errors
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construed as, investment advice. Website www.insigniaconsultants.in.
Prepared by Chintan Karnani
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