05
Aug
Weekly Market View:Nifty gave breakout of all time high level and ended at new life time high at 11390.55. Throughout the week nifty trade with positive sentiments and closed at 11360.85. Nifty traded higher for the 4th week continuously surging to new life time high backed by strong money inflow by FII and DII amid firm global cues. One can expect upside movement if it crosses immediate resistance mark of 11400 and immediate support level is 11280.Technically also closed above 20 SMA which supports bullish view.
Global Markets Update:
World markets had positive trading session mixed after sentiment of market participants turned fragile after US officials confirmed a proposal to raise tariffs on $200 billion worth of Chinese imports to 25 per cent, from 10 per cent US S&P 500 settled at 2840.35. The German index DAX closed at 12615.76.The Asian peers closed the bell with Japan’s Nikkei 225 closing the week at 22525.18 and Shanghai composite at 2740.44.
World markets had positive trading session mixed after sentiment of market participants turned fragile after US officials confirmed a proposal to raise tariffs on $200 billion worth of Chinese imports to 25 per cent, from 10 per cent US S&P 500 settled at 2840.35. The German index DAX closed at 12615.76.The Asian peers closed the bell with Japan’s Nikkei 225 closing the week at 22525.18 and Shanghai composite at 2740.44.
Nifty Levels and Nifty Trading Strategy
Nifty Traders may follow the below mentioned levels for 06.08.2018 to 10.08.2018
Buy above 11,400 for targets of 11,460/11,520
Sell below : 11,280 for targets 11,230/ 11,160
Disclaimer: All views expressed in this site are for reference only. Readers must consult their own investment adviser before taking any investment/ trading decision. We hold no financial liability to any user on account of use of information provided on this website. Due to the market’s volatile nature, the trader may/ may not get appropriate opportunity to execute the trades at the mentioned prices. Ace Investment Advisory hold’s no liability for any
profit/ loss incurred whatsoever in this case.
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