NIFTY DAILY TECHNICAL REPORT
Current
Level: 11459.50
Support:
11272.60-11320.20-11371.60-11423.90
Resistance:
11488.60-11517.40-11546.30-11668.70
· Immediate resistance is
at 11488.60. There will be another wave of rise over 11488.60 to 11546.70 and
11621.10.
· Sellers/bearish trend
will be there below 11423.90.
· Look for signs of
profit taking before the weekend.
Nifty
will correct if and when global economic fundamentals are in charge. Momentum
is bullish. One needs to look for signs of profit taking before close. There is
still fear among the investors. Any bad news can result in a quick sell off.
Use trailing stop losses if you are a momentum trader.
MCX CARDAMOM
AND MENTHAOIL DAILY REPORT
TECHNICAL
VIEW
Cardamom
14th August 2018: (previous day close/CMP Rs.1125.00)
Support:
1075.60-1092.50-1109.60
Resistance:
1157.50-1174.40-1190
o Severe floods in Kerala will surely
result in loss of cardamom, pepper and other crops.
o Cardamom (September future) can rise
to 1450-1500 and more depending on the extent of damage done.
o Trend is bullish with 1157.50 as key
resistance.
o Corrections upto to 1092 are a part
of the bull rally.
Mentha
Oil 31st August 2018:
(previous day close/CMP Rs.1649.50)
Support:
1540.60-1587.60-1605.60-1634.90
Resistance:
1696.90-1758.90-1832.30
o There will be another wave of rise
over 1664.20 to 1729.10 and 1758.90.
o Sellers will be there below 1605.60.
o Trend is bullish.
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