Nifty Analysis : 14 May 2019

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Nifty Analysis : 14 May 2019

Hello Friends,
  • Today, on 14th May, Nifty managed to closed on slightly on positive note at 11222.05
  • In today's session, Nifty opened flat and traded sideways till 1 PM. After 1 PM there was sharp move towards upside.
  • On daily chart, nifty has clearly taken support 100 DMA and bounced back.
  • Prices did not managed to sustain near high of yesterday (11300.20) & came down sharply.
  • This indicates overall selling pressure still persists as per FII Data.


Daily Chart:


For coming trading sessions:

  • Its important to watch if prices is able to sustain above 11300 for upside
  • If price breaks 11100 on down side, further sell off may be seen
  • On the downside 11000 may act as a support
  • May Expiry Option open interest data also shows 11000 strong support with highest OI of 2,628,450 contracts



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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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