#Nifty

For 16-05-2019

Support for Nifty comes at 11108-11036-11000
Resistance for Nifty comes at 11218-11240-11300

BankNifty

Support for BankNifty comes at 28555-28452-28353
Resistance for BankNifty comes at 28786-28872-29050







Once again Nifty lost momentum at upper levels. Nifty is unable to cross range of 11250-11350, or more precisely unable to cross 11300. Nifty tomorrow if breaks 11108 then on lower side it can test 11089-11036-11000. Again hoping if that happens then near 11000 we can make a short term
bottom for a serious bounce. Till Nifty is not able to cross the range of 11250-11350 then it is sell on rise. But either on Friday or on Monday Nifty can cross this range and move to higher levels.

BankNifty once again failed to cross 29000 on upside. Till 29000-29060 range is holding it is sell on rise. But once it crosses 29100 then do not remain short. It can raise very rapidly. But if BankNifty fails to hold 28500 then it can slide down to 28300-28160.


Stocks which can make Nifty or BankNifty bounce could be

1. Axis Bank
2. ICICI Bank
3. Tata Motors






Disclosure: I do not hold any position in Nifty and BankNifty Futures.