VIEW ON NIFTY
Nifty: Nifty yesterday after the gap up opening at 4901 failed to sustain at higher level above 4900 and after correction below 4870 it drifted further down where on lower side it tested the lower level of 4760 and closing was also seen near the days low at 4766 level. Today as the Asian market is trading negative and it’s expected that Nifty will open negative where on lower side will take immediate support of 4700 and sustain below 4700 will bring to 4550 to 4500 in near term, whereas on higher side its not expected to trade above 4800 and till the time its holding 4800 selling will continue in market. Today’s trading range will be 4800 resistance and support of 4700 and trading below 4700 will bring to 4660 – 4620 intraday. On lower side if sustain trading is seen below 4600 will open the door for 4510 to 4400 in medium term, whereas on higher side resistance is seen at 4800. Stochastic has drifted below overbought zone and is trading towards lower zone where further selling in the price is expected in near to medium term.
VIEW ON RUPEE
USD/INR: Rupee yesterday which open at the level of 52.25 per$ failed to trade below 52.2 and traded side way to upsdei for the day and breached the higher resistance of 52.8 and closing was seen above 53 per$ which was the near term highe on closing basis. Today opening is seen positive around 53.2per$ where it failed to cross the lower level of 53 per$ and is trading at 53.36$ nearing the resistance of 53.4per$. If sustain trading is seen above 53.4 will bring to higher level of 53.8per$ to 54.5 per$ which will be just the extension target of the rise what we have been seen in past days. Where on lower side it’s not expected to trade below 52.8 per$ on closing basis and any dip will be buying opportunity where on higher side if sustain trading above 53.4per$ will spark the higher target of 53.8 per$ to 54.5 per$ in near term. Stochastic has reverted from the lower zone with positive intersection and is trading at 60% zone with positive intersection where buying can be seen in near term.
Report By
xDirect India
Nifty: Nifty yesterday after the gap up opening at 4901 failed to sustain at higher level above 4900 and after correction below 4870 it drifted further down where on lower side it tested the lower level of 4760 and closing was also seen near the days low at 4766 level. Today as the Asian market is trading negative and it’s expected that Nifty will open negative where on lower side will take immediate support of 4700 and sustain below 4700 will bring to 4550 to 4500 in near term, whereas on higher side its not expected to trade above 4800 and till the time its holding 4800 selling will continue in market. Today’s trading range will be 4800 resistance and support of 4700 and trading below 4700 will bring to 4660 – 4620 intraday. On lower side if sustain trading is seen below 4600 will open the door for 4510 to 4400 in medium term, whereas on higher side resistance is seen at 4800. Stochastic has drifted below overbought zone and is trading towards lower zone where further selling in the price is expected in near to medium term.
VIEW ON RUPEE
USD/INR: Rupee yesterday which open at the level of 52.25 per$ failed to trade below 52.2 and traded side way to upsdei for the day and breached the higher resistance of 52.8 and closing was seen above 53 per$ which was the near term highe on closing basis. Today opening is seen positive around 53.2per$ where it failed to cross the lower level of 53 per$ and is trading at 53.36$ nearing the resistance of 53.4per$. If sustain trading is seen above 53.4 will bring to higher level of 53.8per$ to 54.5 per$ which will be just the extension target of the rise what we have been seen in past days. Where on lower side it’s not expected to trade below 52.8 per$ on closing basis and any dip will be buying opportunity where on higher side if sustain trading above 53.4per$ will spark the higher target of 53.8 per$ to 54.5 per$ in near term. Stochastic has reverted from the lower zone with positive intersection and is trading at 60% zone with positive intersection where buying can be seen in near term.
Report By
xDirect India
• Asian shares stepped back in cautious early trade on Monday as investors look to see whether U.S. Republicans can hammer a tax reform deal quickly, while the British pound fell on growing doubts over Prime Minister Theresa May’s leadership.Commodity tips
ReplyDelete