Tuesday, 19 June 2018

Trade setup for Tuesday - Nifty may try to reclaim 10800 level

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The Nifty which started on a flat note failed to build on momentum due to weak global cues and slipped towards its crucial support placed around 10,800 on Monday.
In Monday’s price action, Nifty opened at 10,830.20 and was also the intraday high for the index which resulted in no upper shadow. The bears took control of D-Street in morning trade and pushed the index below its crucial support placed at 5-exponential moving average.
Experts are advising to tread with caution and if Nifty fails to reclaim 10,800 in Tuesday’s trading session, then there is a higher probability that it will slip towards its next crucial support, which is placed around 10,755.
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Nifty key support is placed at 10,782 followed by 10,764. If the index starts moving upward, key resistance levels to watch out are 10,825and 10,850
Banknifty support  placed at 26,320 followed by 26,250 Key resistance levels are placed at 26,483, followed by 26,560