Technically, Nifty formed a Bullish Candle followed by Doji which implies that follow up buying was seen at lower levels. It has surpassed its falling supply trend line on daily scale and started to form higher highs- higher lows from
past four sessions. The Index could extend its momentum towards 11650-11700 zones with downside support at 11500 then 11420 levels. Markets are currently dancing to the global tunes, in absence of any major event on the local front. Meanwhile, we’re seeing volatile swings on the stock-specific front which usually happens during
the earnings season. We suggest not to get carried away with the recent surge and maintain positive yet cautious approach.Nifty Chart
past four sessions. The Index could extend its momentum towards 11650-11700 zones with downside support at 11500 then 11420 levels. Markets are currently dancing to the global tunes, in absence of any major event on the local front. Meanwhile, we’re seeing volatile swings on the stock-specific front which usually happens during
the earnings season. We suggest not to get carried away with the recent surge and maintain positive yet cautious approach.Nifty Chart
Nifty Index closed on positive note at 11586.35 above all dynamic moving averages on 17.10.2019. Nifty is looking strong on daily chart. We recommend buy on dip near 11550. Nifty Support : 11500-11470, Resistance : 11600-11650
