Insignia Consultants
New Delhi
Wednesday, 21 August 2019
TIME
9:50AM IST
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NIFTY Technical
Report
Nifty has been consolidating. This range will be
broken soon and a new range will be formed. All the slowdown news of the Indian
economy has been factored in by the markets.
Global sentiment for stock is very bearish. Stocks are not crashing on
hopes that stimulus measures will be announced soon.
|
NIFTY DAILY TECHNICAL LEVELS (Current
price 11013.30)
|
||||||||||
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S5
|
S4
|
S3
|
S2
|
S1
|
|
R1
|
R2
|
R3
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R4
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R5
|
|
10803.50
|
10862.10
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10925.10
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10944.30
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10980.10
|
|
11057.80
|
11105.40
|
11141.10
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11179.50
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11233.40
|
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All technical are for reference only
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||||||||||
Key supports: 10944.30
Key weekly resistances: 11179.50
Nifty needs to trade over 108880-10920 zone till
Friday to rise to 11233 and 11292. Crash will be there below 11292. In my view
nifty should form a medium term bottom by 10th September. Monsoon
and its impact on rural demand will be known by 10th September. US interest rate cut trend will be known by
10th September (after the release of US August nonfarm payrolls).
US-China trade breakdown/outcome will be known by 10th September.
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
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delays, inaccuracies, errors in, or omissions of Information. Nothing in this
article is, or should be construed as, investment advice. All analyses used
herein are subjective opinions of the author and should not be considered as
specific investment advice. Investors/Traders must consider all relevant risk
factors including their own personal financial situation before trading.
Websitewww.insigniaconsultants.in. Prepared by
Chintan Karnani
Disclosure: Insignia
consultants or it employees do not have any trading positions on the trading
strategies mentioned above. Our clients do have positions on the trading
strategies mentioned in the above report.
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NOTES TO THE ABOVE REPORT
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TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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