Nifty and Bank Nifty Technical Report: 7th October 2019

By: Admin
2 weeks ago
2385

Insignia Consultants

New Delhi

Monday, 07 October 2019

TIME 8:30 PM IST                         

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NIFTY AND BANK NIFTY Technical Report

To me Nifty and bank nifty are investment opportunities. Day traders and jobbers need to remain on the sidelines. Tomorrow is a holiday. There will be position squaring and rebuilding for Wednesday. Global factors are still bearish for stocks. US-China trade deal may not happen this week. News will be the key.

 

nifty spot

bank nifty spot

CMP

11174.75

27731.85

S5

10778.90

24591.15

S4

10873.90

25344.92

S3

10976.83

26161.50

S2

11023.54

26532.10

S1

11081.33

26990.64

 

 

 

R1

11268.17

28473.06

R2

11325.96

28931.60

R3

11372.68

29302.20

R4

11475.60

30118.78

R5

11570.60

30872.55

 

CMP= Current price market price

ABOVE TECHNICALS ARE ONLY FOR REFERENCE

Nifty (spot)

Key supports: 11099.10

Key resistances: 11262.10

200 day MA at 11262.10 is the initial resistance with 100 day MA at 11405.40 as key resistance. Key long term support is at 10940.40. Short term bearish trend will be there only if nifty trades below 10940.40.

Bank Nifty (spot)

Key supports: 27201.70

Key resistances: 28117.70

Bank nifty needs to trade over 27201.70 (100 week moving average) to rise to 28795 (200 day moving average) and 29445 (100 day moving average). Crash or sell off will be there only below 27201.70.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Websitewww.insigniaconsultants.in. Prepared by Chintan Karnani

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NOTES TO THE ABOVE REPORT

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