#Nifty
For 18-03-2019
Support for Nifty comes at 11360-11300-11234
Resistance for Nifty comes at 11487-11542-11600
Today Nifty after making new swing high closed from day's highs. Now 11447 is 161.8% extension of move from 11118 to 10585. So that should be the a point from where we can see a minor correction. RSI on daily charts also nearing overbought zone of 75-80.If Nifty fails to move above 11450-11500 then a minor pull back to 11300-11274 can be seen.Technical targets of double bottom pattern of 11590 are also possible.
Below 11274 there is a gap on daily charts of 11227-11180.
Only and only close below 11180 we can say this rally has ended.
Disclosure: I do not have any position in Nifty Futures and today booked loss in my Nifty options.
For 18-03-2019
Support for Nifty comes at 11360-11300-11234
Resistance for Nifty comes at 11487-11542-11600
Today Nifty after making new swing high closed from day's highs. Now 11447 is 161.8% extension of move from 11118 to 10585. So that should be the a point from where we can see a minor correction. RSI on daily charts also nearing overbought zone of 75-80.If Nifty fails to move above 11450-11500 then a minor pull back to 11300-11274 can be seen.Technical targets of double bottom pattern of 11590 are also possible.
Below 11274 there is a gap on daily charts of 11227-11180.
Only and only close below 11180 we can say this rally has ended.
Disclosure: I do not have any position in Nifty Futures and today booked loss in my Nifty options.
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