Daily Technical Report For 16/09/2019

Manas Jaiswal Technical Research Image

After Thursday’s profit booking, on Friday we saw a sharp recovery from lower levels. We still maintain a cautious stance for the market as NIFTY is trading below 200DEMA. On the daily chart, NIFTY is making an “Inverse Head & Shoulder” pattern and the neckline is placed near to 11100. Thus one can take fresh long position only on a breakout above 11100. However since NIFTY has lot of support in the range of 10750 - 10650, thus long positions can be held with stop-loss of 10650.  

Today's Picks On 16/09/2019

Share Market Daily Picks Manas Jaiswal

ICICI bank

Buy

  • 413.40
  • SL: 407
  • TGT: 425
Share Market Daily Picks Manas Jaiswal

IDFC First Bank

Sell

  • 42.30
  • SL: 43.60
  • TGT: 39.75

Nifty Imp Levels For 16/09/2019

Open 10986
High 11084
Low 10945
Close 11075
S 1 10986
S 2 10896
R 1 11124
R 2 11174

Actionable Ideas On Nifty for 16/09/2019

Action SL TGT
Buy above 11125 11064 11240
Sell below 10890 10956 10770
Show Timings
Manas Jaiswal Technical Research Group

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