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TECHNICAL ANALYSIS Course starts 11th August 2019 at Dadar. For more info call 9820526455.
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Daily analysis : INFORMATION REGARDING NEW BATCH

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Weekly analysis : SUPPORT ZONE HOLDS; 50DMA TO THE RESCUE - 11/10/2019

SUPPORT ZONE HOLDS; 50DMA TO THE RESCUE - 11/10/2019.

 

HIGHLY VOLATILE IN TRADING RANGE.

 

As pointed out in the previous week’s article, the market took Support at the Support Zone (11178-11090) mentioned last week. Despite being a truncated week, there was no shortage of Volatility. Each day saw both Sensex and Nifty drifting down and taking Support at the 50dma, and then bouncing back. Interestingly, the 100dma (Nifty 11407) is now acting as a Resistance. A close above the 100dma will lead the Nifty to 11692, and a close above that will lead the indices to new highs. A bearish break of the 50dma (11087) will take the Nifty down to critical Support zone near 10700. Since the indices have managed to turn the Trend Bullish, one can look for opportunities to buy at lower levels.

 

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