EQUITY WEEKLY NEWSLETTER 15th JUNE 2018 STOCK /COMMODITY/FOREX/WEALTH MANAGEMENT Technical based Trading and investment call Entry- Exit Trend Reversal+ Proper Stop loss
NIFTY: 10817.70 (+0.46%) Nifty hold support level 10600 and closed the week on positive note gaining around 51 points at 10817.70 as compared to last week. Benchmark indices close positive after volatility on Friday with Pharma stocks, IT stocks and reliance industries leading the gains. Markets witnessed a volatile trading session with Nifty recovering its opening losses in the last one hour of trade. Nifty remained resilient, witnessing an identical recovery in the latter half of the session for the second day in a row. Tracking the Technicals, Nifty has formed a spinning top candlestick pattern on the weekly chart, hinting a formation of immediate resistance at 10900 levels. On the downside, the 10DEMA is placed around 10650 mark, indicating an immediate support for the index. Nifty has strong resistance of 10900 mark. It breaks the levels in the positive direction and the next target would be 10900-11000. Market would see reversal only if it closes below 10500 levels and until then Bulls would have a upper hand but would struggle in the resistance zone of 11000-11200 as bear would try hard to break the negative momentum.
Friday 15th JUNE, 2018
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