Stock market investment tips today and Tomorrow, intraday nifty and stocks Tips and call 11 oct 2018, Nifty Trading Tips, nifty trend tomorrow, nifty stocks, nifty tips intrans, nifty tips provider, stock market investment for beginners, intraday stock tips, intraday trading intraday stocks watch today, best stocks to buy today and tomorrow, hot stocks to buy now, picks in shares of India 11 oct 2018
---------------------------------------------------------------------------------------------------------
The market made a strong come back on Wednesday as the Nifty50 traded sharply higher throughout the session and reclaimed 10,450 levels. The rally was driven by financial space after SBI decided to purchase loan assets worth up to Rs 45,000 crore from NBFCs.
The 50-share NSE index formed bullish candle on the daily charts and negated the formation of lower highs for previous six consecutive trading sessions.
The Nifty50 after opened higher at 10,331.85 extended gains as the day progressed and touched an intraday high of 10,482.35. It closed159.10 points higher at 10,460.10.
If the 50-share NSE index sustains above 10,300 levels then it can cross 10,700 levels followed by 10,850 levels, the critical hurdle, experts said.
"It was heartening to see Nifty50 making a strong come back, with a decent bullish candle, after a brutal correction market witnessed in last couple of weeks. This upmove looks broad based and secular with strong participation from all the sectors except IT," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.
He said sustaining above 10,300 kind of levels in next couple of trading sessions Nifty50 can make an attempt to test 200-Day Exponential Moving Average whose value is placed around 10,767 levels.
"Interestingly it also coincides with the bearish gap zone of 10,754–10,843 formed on October 4. So, on the upsides 10,850 can be a critical hurdle which can cap the potential upsides going forward," he added.
He feels inspite of this short term bullishness today's spike shall continue to remain part of a pull back attempt and in case Nifty50 slips below 10,300 levels then recent low of 10,198 will again come under attack as culmination of corrective pattern requires Nifty50 to slip below 9,950 levels.
India VIX fell by 8.83 percent to 18.01 levels. Decline in VIX from higher levels with a topping out formation have given a short term stability and immediate bounce back move to the market. Now VIX has to further cool down below 16-15 zones to extend the market recovery.
For Quick Trial Contact:
✆ - 09699997717✔
✆ - 0731-6626191 ✔
Mail: info@ways2capital.com
✆ Join us on WhatsApp @ 89620-00225 ✆
✆ 24/7 Customer Care 1800-3010-2007 (Toll Free)
0 comments:
Post a Comment