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Nifty tanked heavily on weekly chart continuing the sell trend for the third weeks as well and closed at 11166.35.
Nifty traded lower in the stress full week as the increasing tension talks between US and China trade war, stemming
rupee’s fall and narrowing the current account deficit, failed to cheer investors to boost up the sentiments. Nifty gave closing below 8 Exponential moving average which depicts bears overpower bulls. One can expect downside movement if it breaches immediate support mark of 11100 and immediate ressistance mark is 11385.
World market has positive sentiments after new US and Chinese tariffs on each other’s goods were set at lower rates this week than previously expected, rising hopes that hostilities between the world’s two largest economies may be easing. US S&P 500 settled at 2932.58. The German index DAX closed at 12419.10. The Asian peers closed the bell with Japan’s Nikkei 225 closing the week at 23891.50 and Shanghai composite at 2797.48.

Nifty Weekly Levels and Trading Strategy

Nifty Traders  may follow the below mentioned levels for 24.09.2018 to 28.09.2018

Buy above 11,350 for targets of 11,420/11,520

Sell below : 11,100 for targets 11,000/ 10,850

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