Daily

Daily Market Update Report 13-09-2019


Nifty opened higher but were unable to sustain early hour gains which led the indices to close in red. On the daily chart we are observing a bear candle which suggests that markets are circumspect at current level. We still maintain our stance that Nifty is in a lower- top lower- bottom formation and pullback rallies are likely to attract selling pressure.

 

In coming trading session there are two scenarios, If Nifty for first hour opens lower and trades in the range of 10968 - 10937 then go,  long with a stop loss of 10920 levels for a target of 11009 – 11026 - 11054 levels. If Nifty for first hour opens higher in the range of 11009 – 11040 then go short with a stop loss of 11073 for a target of 10954 – 10937 – 10892 levels.

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