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Nifty Trading Strategy

Trade Date- 12/07/2018

Share Market (Indian equity markets) ended on flatter note on Wednesday with Sensex, Nifty just managing to close in green.  Mid-cap stocks, auto shares, PSU bankers and metals finished with moderate to heavy losses.

Nifty

In the last trading session, Nifty closed on a  positive note at 10,948.30 levels, but  seen resistance at 10975-10985. So, Traders  may require a quick action from sellers if Intraday support of 10940 is broken during the day.

On a global front, U.S markets opened (on 11th July) on a weak note. U.S. stocks slid on Wednesday, led by industrial shares, after Washington’s threat to impose tariffs on an additional $200 billion worth of Chinese goods raised fears of an escalating trade war.

U.S. officials on Tuesday issued a list of thousands of Chinese imports that the Trump administration wants to target with new tariffs. In response, China accused the United States of bullying and warned it would hit back.

European markets too, closed on red side with average loss of -1.30 to -1.53%.

Nifty Trading Calls

Trading Strategy for Nifty

Intraday traders may follow the below mentioned levels-

Buy above 10,980 for targets of 11,000/11,030

Sell below 10,940 for targets of 10,920/10,895

Trading Strategy for Bank Nifty

Buy above  26,940 for targets of 26,960/27,010

Sell below 26,670 for targets of 26,642/26,590

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