#Nifty
For 19-05-2020
Support for Nifty comes at 8806-8754-8700
Resistance for Nifty comes at 8922-9040-9100
BankNifty
Support for BankNifty comes at 17500-17350-17143
Resistance for BankNifty comes at 17900-18350-18750
Nifty again was sell. And from high of 9155 it went all the way to 8806. As our day target was 8900 so we advised to book.
For tomorrow we may see a bounce on news of this vaccine. But big players will again use this opportunity for selling.
Tomorrow all rallies to 8940-9000 will be used for selling with a SL of 9050. Fresh buying should be done on close above 9200. Till then only sell on rise. Use only rallies to sell as 8750-8700 is a strong support zone. Below 8700 there will be a fresh breakdown. So sell position created at 9000 should be squarred off at 8800-8750.
BankNifty was sell below 18800 however it went all the way to 17500 while I was expecting 18000 maximum.
For BankNifty 17500-17300 is strong support zone.
For tomorrow it may open up around 17800-18000 and may gain more to 18300-18500. So we will sell either at 18300-18500 with SL of 18750 for target of 18000-17800 or we will sell below 17500 for targets 17200.
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