Market Trade Date: 17/07/2018
In the last trading session, Bank Nifty lost 256.15 points or 0.95% to end at 26679.80. NSE Nifty edged down 82.05 points or 0.74% to settle below 11,000 at 10,936.85. , Nifty has facing resistance at 11020-11055 levels on daily chart and closed above its 20 day SMA and 10 Day SMA. Closing above 20-Day SMA indicates a strong closing and may require a quick action, if Intraday resistance of 11,025 is broken during the day.
On a global front, U.S markets closed (on 16th July) on a negative to positive note on an average of -0.26-0.18%. European markets closed in positive to negative amounting to an average of upside 0.16 to -0.80%.
Intraday traders may follow the below mentioned levels-
Buy above 10,980 for targets of 11,000/11,020
Sell below 10,926 for targets of 10,905/10,880
Bank Nifty Trading Strategy
Buy above 26,940 for targets of 26,965/27,000
Sell below 26,640 for targets of 26,605/26,570
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