Moneyites May 21, 2020 No Comments

Nifty Tips:- In the previous session, The NSE main index Nifty 50 extends gain by +187.45 points or +2.11% to close at 9066.55. The index opens gap positive and keeps holding the early gains in the first halves and later its breaches the trading range to extend rally further in the second halves. In today’s session too, the index broke out the level of 892o and hit both the target of 8975-9050 as mentioned in the report and closed above them with positive biases.

Day Trading:- The Nifty index form an aggressive bullish candle and closed near the day high with positive biases. The bulls are in command and if manage to hold above 8950 on a closing basis we can see a rally to continue in the short run. The intraday trading strategy is to buy on dips on Nifty future and a call option of 9200 strike price for next week can be initiated for the given below targets.

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 9110 above this it may retest the level of 9170-9220 to the upside. Whereas below the level of 9030 it is looking weak and may retest the support level of 8950-8900 to the downside.

To get all live updates on market Join our channel:- Stocks2trade Telegram Channel

Nifty Tips

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

Leave a Reply

Your email address will not be published. Required fields are marked *