Monday, 18 June 2018

Trade setup for Monday - Nifty May Move to 10825-890 for fresh breakout.

A candle with long lower shadow occurred in the chart after strong pull back which left with no significant of it but being its pull back and closed above support after consolidation it might get attempt to reach at 10835-55.

Monday is likely to see the levels of 10,850-890!

Supply zone only below 10800 on Nifty Future level and Demand zone  above 10835 to 10850-890!
Overall, the undercurrent continues to remain buoyant and the F&O data suggests that Nifty has some more steam left and it may attempt to move past the pattern resistance area near which it is currently consolidating. i will quote it trade with positive cautiously as per levels.

STOCKS TO WATCH: Long positions were seen being added in Reliance, Wipro, Infosys, Bajaj Finance, Auro Pharma, Berger Paints, TCS, Kotak Bank, Torrent Pharma, Granules and Dr Reddy’s.

nifty50 daily chart shows pull back attempt till 10825-50!
Nifty50 dailychart