Indian Stock Market – Part of Newsletter on 18th November 2019

When we asked you to long Nifty around 10700 in October 2019, we clearly mentioned that this uptrend would lead Nifty till 12000-12100.

If Nifty hits 12100-12150 or Bank Nifty hits 32000 then add short position respectively. In coming days, considerable decline is possible.

Nifty has support at 11800 and resistance at 12120 while Bank Nifty has support at 30800 and resistance at 31500.

In the week ahead, uptrend is indicated for today and tomorrow. On Wednesday-Thursday, downtrend is indicated. On Friday, mixed to positive trend is possible.

Next Monday, gap down opening is possible.

Intraday perspective: It shall trade mixed to positive till 12.40 HRS. From 12.40 to 14.30 HRS, downtrend is indicated. From 14.30 HRS to closing, uptrend is possible.