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Daily Technical Report For 18/05/2022

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NIFTY started the day on a positive note and breached the 16k mark in early trade yesterday, thereafter it started making higher tops and higher bottoms on the charts and it ended strong near 16300. Since NIFTY has given a confirmation of higher top and higher bottom formation on the 60 min chart. Thus now it can test its 20DEMA, which is placed near 16500. But the short term trend will turn bullish only above 20DEMA. On the downside the range of 15800 - 15700 will play as an important support for the immediate term.

Today's Picks On 18/05/2022

Share Market Daily Picks Manas Jaiswal

Wipro

Buy

  • 486.65
  • SL: 474
  • TGT: 510
Share Market Daily Picks Manas Jaiswal

IEX

Buy

  • 195.30
  • SL: 191
  • TGT: 203

Nifty Imp Levels For 18/05/2022

Open 15912
High 16284
Low 15900
Close 16259
S 1 16011
S 2 15764
R 1 16395
R 2 16531

Actionable Ideas On Nifty for 18/05/2022

Action SL TGT
Buy above 16300 16200 16500
Sell below 16125 16200 15950
Show Timings
Manas Jaiswal Technical Research Group