Moneycontrol
Last Updated : Jan 03, 2019 02:48 PM IST | Source: Moneycontrol.com

Buy or Sell | Hold on to long positions; Strong support at 10,670

In recent trading sessions, the Nifty has been range-bound, says Swati Hotkar, Nirmal Bang Securities.

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For the Nifty, the 200 DMA will act as a very crucial strong support, which on breakdown, will propel Nifty towards the 10,620 mark. The overall outlook is positive. On the higher side, 10,940 -10,980 will act as the double top resistance level. Once this level is breached, the Nifty can accelerate to the 11100-11270 mark.

In recent trading sessions, the Nifty has been range-bound between 10,770 and 10,900. Both the daily and weekly charts indicate that the Nifty is trading in a higher top, higher bottom pattern.

One can hold their long positions as long as Nifty stays above 10670.

 
First Published on Jan 3, 2019 02:48 pm
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