Daily

Daily Market Update Report 06-12-2019


Nifty opened higher but was unable to sustain the opening gains which led the indices to close in red. On the daily chart, we are observing bear candle which suggests that markets are circumspect at current level. We maintain our stance that the daily trend is down, and will reverse only if nifty trades above 12060 level.

 

 

In coming trading session we would like to give two scenarios:

  1. If Nifty opens higher in the range of 12037 – 12049 then go short with a stop loss of 12060.
  2. If Nifty open trades above 12060 then go long, with a stop loss of 12019 for a target of 12101 – 12123 levels.

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