Yesterday Nifty moved up 126 points to 17312 and formed a bullish Piercing Line kind of pattern on the daily charts, indicating the possibility of a bullish reversal.
Today expectation is Gap up opening amid Green Global Cues. Dow +550 pts & Sgx NIFTY 17462 + 147
Here yesterday Nifty Opened at 17144 & initially Low hit at 17098. Took 5DSMA support at 17100. Then smart re-bouncing. Strength recouped above 9 DSMA 17200 & 20 DSMA 17240. Pull back extended upto 17328. Finally settled at 17312. D to D basis up 0.73% or +126 points. The rally was supported by banking & financial services, select auto and IT stocks.
This rally ahead of Diwali not only to test previous top 17430 but also to cross that & may move towards 17500 & more than that subject to hold 17200/17100.
Intraday basis :- On the Up side :- Positive above 17350 & then 1st Resistance 17399/430 that is a Crucial Resistance Area.. More strength above that then 2nd Resistance Vital zone at 17470/525. Traders should cautious around 17555/585.
On the down side :- Support area 17246—17228. Chances to hold. If breaches or Negative below that then 1st support 17190 <9DSMA>/17150 – should hold 17150. More weakness below that then 2nd Support vital zone at 17098 -17055.
Technical Indicators & Wave patterns are favorable for bulls and showing some more potentiality are there to move up.
Option data indicated that the trading range for Nifty could be 17000-17500 levels for coming sessions.
India VIX slightly inched up by 0.87 percent to 18.42 levels. If the VIX decisively drops below the 18 may bring stability to the market.
Please contact the below telephone nos for Demat and Trading Account Opening.
+91 98312 00699 / 82749 09974
For Opening DP and Trading Account online, please visit
https://kyc.eurekasecurities.net/home/index/729
#sharemarket #financialmarket #opentrading #opendemataccount #opendemat #sharemarket #insurance #insurancebroker #insurancebroker #trading #Buyback #IPO #mutualfundinvestments
#SIP #investment #mutualfunds #mutualfundinvesting #sharemarket #stockmarket #investing #mutualfundsindia #equity #debt #hybrid #money #growth #wealth #trading #finance #investor #savings #wealth
Exclusive for ANM News Viewers - ANM's Financial & Insurance Related News - To join our group please visit https://www.facebook.com/groups/668263891032421
Source : Eureka
Please register at https://kyc.eurekasecurities.net/home/index/729 for opening Trading and Demat Account.
/anm-english/media/agency_attachments/AtBG5e3MoE629QYzhZen.png)
/anm-english/media/post_banners/a2iTtP6ALYTT4qQazLOv.jpg)