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Aug 20,2020 Shrinking price band signals sharp moves and higher volatility ahead.

All and all, the 11,430-11,500 zone will be a not-trade zone for Nifty. A weak dollar is helping the market to maintain its momentum. As liquidity chases the momentum, we advise investors not to aggressively short the market. At the same time, the upside momentum should be chased carefully with strict trailing stop losses. The bands are contracting and this is pointing to sharp moves and increased volatility in the coming days.


Nifty (11312) Upside to 11466 and beyond that to 11660 is still a possibility as long as 11360 holds’ the Nifty opened with a bang down and climbed to a high near 11360 and cracked to close on the red…technically now there is a resistance at 11360-11400 zones and downside to 11200-100 is …


Nifty Bank (21999) Technically upside to 22573 is still a possibility as long as 22100 holds…the Nifty Bank opened with a bear gap below 22100 and stayed down to close in the red…technically 22100 is a stiff resistance to deal with and a slide to 21600 is a possibility…

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