Nifty and Bank Nifty Technical Report: 4th December 2019

By: Admin
8094

Insignia Consultants

New Delhi

Wednesday, December 4, 2019

TIME 9:26 AM IST                      

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NIFTY AND BANK NIFTY Technical Report

Global factors as well as domestic are bearish for stock markets. Trade war escalation with China and Europe by USA has resulted in falling trend this week. There is still hope for bulls if the various US jobs numbers which will be released from today, beat street expectations.

Nifty Spot Current

11,952.20

S3

S2

S1

 

R1

R2

R3

11,652.40

11,874.30

11,936.50

 

12,056.10

12,112.40

12,237.70

Bank Nifty Spot Current

31,457.33

S3

S2

S1

 

R1

R2

R3

30,838.80

31,104.55

31,392.40

 

31,523.10

31,784.70

32,036.80

All technical are for reference only

 

Nifty (spot): (current 11952.20)

Quick crash will be there only below 11936.50 to 11817 and 11652.40. Nifty needs to trade over 11936.50 till Friday to rise to 12180 and 12237. Trend is down at the moment.

Bank Nifty (spot): (current 31457.33)

Bank nifty can fall to 31392.40 and 30838.80 as long as it trades below 31684.80. Key short term support is at 31392.40.

Till Monday, there can be a big gap between close and next day open. Low risk traders preferably close positions before the end of day’s close.

Happy Stock Hunting

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. Website www.insigniaconsultants.in. Prepared by Chintan Karnani

Disclosure: Everyone in team Insignia Consultants makes investment in delivery based trades on stocks listed in BSE and NSE.

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