Daily

Daily Market Update Report 22-07-2019


Nifty opened little higher but fail to sustain opening gain and selling pressure was continue throughout a day which led the indices to close in red. On the daily chart we are observing “Bearish” candlestick with that we get closed below 100 day SMA & Nifty test upward gap area which is in the range of (11430-11480).

 

Outlook: Hence, in coming trading session if Nifty trade below 11400-11380 traders can short with the stop loss of 11445 for target 11340-11320. Upper side 11450-11480 will be major resistance according to above chart pattern it seems we will see selling pressure at higher level.  

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