Nifty50 sell on high, Resistance placed at 11820.

Moneyites April 30, 2019 No Comments

Market Summary:- The Indian benchmark index NSE Nifty 50 closed higher 112 points to 11754 on the last trading session of the week.  The Nifty index has opened gap up around 60 points in the early trade and keeps on holding the gain thereafter to capitalise in the second half. On the sector front, Base metals index is the biggest gainer rose 1.86%, whereas the Auto sector hammered most down by 1.10%.

On the Weekly chart, The index remains flat, forms Doji candlestick pattern sign neutral in the week ahead.

Nifty 50:- The Nifty 50 index form a strong bullish candle and closed near the day high with the positive note. The index has nearest resistance at 11790-11820 level in the week ahead, holding above this level of 11820 only it may see fresh buying.

Whereas fails to hold the level of 11750  it may test 11720 and below this, it may correct down to 11690-11660 in the short run.

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