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Last Updated : Feb 08, 2019 01:58 PM IST | Source: Moneycontrol.com

Buy or Sell | Support for Nifty at 10850; trade with strict stop loss

Markets look reasonably positive for the coming week, however, we can expect volatility on account of elections.

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The Nifty has significantly breached resistance of 11,000 levels. For the week, the auto sector was up 6.3 percent and consumption was up by about 4 percent. PSU banks did not do well and declined 2.8 percent, while metals was down 2.7 percent.

It formed a strong bullish candlestick pattern on weekly charts, while on the daily chart it formed a Doji pattern. Markets look reasonably positive for the coming week, however, we can expect volatility on account of elections.

Dinesh Rohira, Technical Analyst at 5nance.com says, trade with strict stop losses. Resistance is at 11,180 and support is at 10850.

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First Published on Feb 8, 2019 01:56 pm
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