Nifty Analysis : 16 May 2019

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Nifty Analysis : 16 May 2019

Hello Friends,

Ass mentioned in yesterday's analysis, Nifty opened slight gap-up but immediately moved down and remained sideways.
During the day, it made high of 11281 level and faced strong selling pressure.
100 DMA continue to provide support on the down side.
This has kept nifty range bound through out the day.




For coming trading sessions, till Nifty breaks 11300 on the upside or 11100 on the down side trend may remain sideways so need to have patience and wait for the breakout before initiating any trade position.

Next weekly options expiry is on 23rd May. Election results are also on the same day.
All options are priced very high for this expiry.
High volatility to continue for this week as well making it risky for options buyer.


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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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