Moneyites May 15, 2020 No Comments

Nifty Tips:- In the previous session, The NSE main index Nifty 5o declined marginally by -5.90 points or -0.06% to close at 9136.85. The index opens with strength but reveres back and after breaching the immediate support level of 9110 it kissed the first target of 9060 as mentioned in the previous report. Later in the second half, It rebounds from the day low and wipes out almost all its losses for the day. On WoW basis the index has lost 115 points to closed in the red.

Day Trading:- The Nifty index forms a bearish candle after positive opening signs its facing strong selling pressure on the higher level. The index flirting at the level of 9000 breaks down of this level may open more downside to the level of 8800-8700 Whereas Nifty index has crucial resistance at 9275 above this it may trend higher to the level of 9370-9500 to the upside.

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 9200 above this it may retest the level of 9275-9350 to the upside. Whereas below the level of 9110 it is looking weak and may retest the support level of 9050-8980 to the downside.

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

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