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Market still under a consolidation range - April 16, 2019 - Market Strategy - Share India Securities Ltd

Posted On: 2019-04-16 09:47:11

"Markets nudged higher on the back of selective buying, Nifty ended at 11690, gaining 47 points. A small white candle was formed as the momentum shifted back into bulls favor. However, profit booking at higher levels and most counters still under a consolidation range, it looks like that the index too could remain confined inside a range. Being a truncated week, traders expected to adopt a cautious stance. On the higher side, 11700-11730 is immediate resistance. On the lower side, 11650-11320 act as support range." - Mr Abhinav Gupta, President, Capital Markets, Share India Securities Ltd.

Market Strategies

NIFTY - 11690

Sup 11650-11620 Res 11700-11730

BANKNIFTY - 30104

Sup 30000-29850 Res 30250-30350


Source: Equity Bulls

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