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Weekly Market View: Nifty continued the Bull Run and scored new life time high; closing the week at new life time closing high at 11439.25. Nifty traded lower after hitting new life time high on charts and remained in sell mode for most of the trading session of the week. Nifty formed doji on weekly chart which leads to indecisiveness and ended the week to close in red at 11439.25. It looks bearish ahead in coming trading session too and may witness more selling pressure if closes below the support level of 11300 to test next immediate support of 11100. The immediate resistance is 11480

Global Markets Update: 
World markets had negative trading session dut to growing global trade tensions and strained geopolitical relationships amid concerns Britain will leave the EU without an agreement regarding its future relationship with Brussels.
US S&P 500 settled at 2853.58. The German index DAX closed at 12483.83.The Asian peers closed the bell with Japan’s Nikkei 225 closing the week at 22298.08 and Shanghai composite at 2795.31.

Nifty Levels and Nifty Trading Strategy

Nifty Traders  may follow the below mentioned levels for 13.08.2018 to 17.08.2018

Sell below : 11,418 for targets 11,350/ 11,300

Buy above 11,480 for targets of 11,500/11,540

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profit/ loss incurred whatsoever in this case.

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