Nifty Analysis : 13 May 2019

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Nifty Analysis : 13 May 2019

Hello Friends,

As mentioned in my previous post, Nifty was already facing strong selling pressure.

Today, on 13th May, Nifty traded sideways and faced selling pressure in last 30 Minutes & closed at 11148.20.

During the day Nifty had touched low of 11127 which is exactly at 100 DMA.

For Tomorrow, We may see more selling pressure due to Global news (China announced retaliatory tariffs on U.S. goods)
While writing this post, Dow Index is trading down by 2.68% (nearly - 700 Points)

This will surely trigger further sell off in global markets.

SGX Nifty  futures extended losses and is trading at 11,088.75.

We may have gap-down opening and could see further selling pressure on Nifty



If we apply Ichimokou Cloud Indicator we can see prices have just managed to closed within the cloud.

Prices trading below the cloud indicates more selling pressure can be seen and more down side can be expected.



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Disclaimer: I am not SEBI Registered analyst. All above analysis are just for study purpose. 
I am not responsible for any gain or loss arising out of trades taken based on the study shared above.
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