You must read previous articles and watch the given chart carefully to
understand this article completely.
Analysis for 18 July 2018: -
On 17 July 2018: FII Net Sold – 673.99 INR Crs: DII Net Bought – INR – 840.06 Crs
Market hit a high at 11078 and then a profit taking took it down to
10926 levels. After profit taking it has again started with upward journey. Now
for today’s trading session market will be strongly backed by stable global
cues. So it has every chance of hitting 10080 on higher side. Only technical
resistance that I can see is at 11172 levels which is life time high for Nifty.
Recent low of 10926 is a threshold support for Nifty. As long as it
holds 10926 we can say that Nifty has every chance to come near its all-time
high.
For today’s trading session, market is expected to open higher. Technical
momentum is on bullish side as this rise is going to be backed by a correction.
It has first technical resistance at 11080 levels. Trade long on your selective
stocks with profit support.
Avoid this rise for any investment as market may be in a possible
situation of big time divergence.
Strategy for Nifty July future
– Nifty July SGX future is trading at 11050 which are going to be a good
opening. In any intraday pullback it is a buy with stop near 11000 marks with a
possible rise towards 11100 levels. One should not prefer shorting at any stage
of trading today.
BANK NIFTY July future – It
finally surpassed the levels of 27000 marks which I was expecting since many
weeks. Bank Nifty has a technical level to be tested as next key level is going
to be 27400-27500. We can expect technical support at 26800 as key support for
today’s session. I am not very to trade this index but if I have a choice then I
would like to buy the dip.
