Monday, 19 November 2018

Bank Nifty Breaks Out From Classic Cup & Handle Pattern

Posted by suhani varma on Monday, November 19, 2018 with No comments

Stock market investment tips today and Tomorrow, intraday nifty and stocks Tips and call 19 nov 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 19 nov 2018
---------------------------------------------------------------------------------------------------------
The overall setup at the current juncture continues to remain positive. However, the Nifty has reached its longterm 200-DEMA resistance of 10,700.

For any upswing, the Nifty has to surpass the 10,700-levels on a closing basis. Post that, we expect the Nifty to rally towards 11,100-levels. On the downside, longs should be protected with a stop loss around 10,350-levels.

Meanwhile, Bank Nifty has already broken out from a classic Cup and Handle pattern and has managed to hold above it. The index continues to build momentum post its breakout above 25,900-levels.

If the momentum prolongs, Bank Nifty is expected to move higher towards a potential target of 26,800. A protective stop loss should be placed around 25,900-levels.

The Nifty FMCG index is showing signs of a consolidation pattern breakout on the daily chart. It has also convincingly surpassed its long-term 200-DEMA which is a positive development.

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