Nifty Analysis : 15 May 2019

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Nifty Analysis : 15 May 2019

Hello Friends,


  • Today, on 15th May, Nifty opened slight gap up but unable to continue up-move.

  • In today's session, Nifty traded sideways during the day and faced selling pressure towards end of the session.

  • As mentioned in yesterday's analysis, Nifty did not moved above 11300 and did not broke low of past 2 days around 11100.

  • 100 DMA is providing support for the price as of now.

Daily Chart:


For coming trading sessions, till Nifty breaks 11300 on the upside or 11100 on the down side trend may remain sideways.

Prices trading inside ichimokou cloud is also an indication of no trading zone. Base line and conversion lines are also getting flat which also indicates possibility of range bound movements.

To conclude, wait for the breakout before initiating any trade position.



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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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