Moneyites May 22, 2020 No Comments

Nifty Tips:- In the previous session, The NSE main index Nifty 50 extends gain by +39.70 points or +0.44% to close at 9106.25. The index opens on a positive note and after breaching the resistance level of 9110 it hits our first target as recommended in our previous report. The Nifty index in late hours cools off from the day high and finishes the day in green with the modest gain.

Day Trading:- The Nifty index forms a small green candle and holds above the mark of 9100 in today’s trading session. The index is in positive momentum and bulls may continue to ride if manages to hold above the level of 9050. The index is facing multiple resistance on the higher level so stiff selling pressure can be witnessed from the resistance zone.

As our levels decode the daily market movements in simple support and resistance levels with high accuracy. So we recommend keeping the below levels at the back of your mind before going for the intraday trading.

Nifty Support and Resistance Level:- The index has immediate resistance at 9120 above this it may retest the level of 9180-9250 to the upside. Whereas below the level of 9050 it is looking weak and may retest the support level of 9000-8920 to the downside.


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Also Read:Markets:- How to Trade Nifty on Thursday?

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