Bank Nifty| Nifty support and resistance levels for 18th Nov 2019
Bank Nifty and Nifty support and resistance levels for 18th Nov 2019: Today the benchmark indices started with a positive note and after a volatile trading session, Nifty and Bank Nifty closed in green. Nifty future touched 12008 as an intraday high but could not hold 11,950 in the end.
Nifty future today opened at 11,913, it gained 40.95 points during the day and closed at 11940. It has given an intraday movement of 95.65 points today.
Bank Nifty future was volatile and range-bound, it has given intraday movements of only 325.40 points. The PSU banks gained the most, it gained 1-8% in the morning after the supreme court’s verdict on Esser steel. You can read details of today’s market happenings here.
Bank Nifty future today opened at 30902.20 and touched an intraday high of 31185 and day’s low at 30859.60. It has gained 299.45 points and closed for the day at 31070.
Bank Nifty and Nifty support and resistance levels for 18th Nov 2019
The nifty support and resistance levels for 18th Nov 2019
Primary Trend Nifty50 Future: Sideways
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 12020 whereas All Down Moves Initiates Short Covering (Buy) @ 11880
If Nifty50 future share price Moves Above 11955 and sustain. Then you should Buy with 1st Target of 11974 during the day with a Stop Loss of 11925. FOR the Target of 11974 -11994- 12018
If Nifty50 future share price Moves Below 11925 and sustain. Then you should Sell with 1st Target of 11900 during the day with a Stop Loss of 11955. FOR the Target of 11900- 11878- 11852
The Bank Nifty support and resistance levels for 18th Nov 2019
Primary Trend of Bank Nifty Future: Mild up & sideways
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 31400, whereas All Down Moves Initiates Short Covering (Buy) @ 30800
If Bank Nifty future share price Moves Above 31135 and sustain. Then you should Buy with 1st Target of 31205 during the day with a Stop Loss of 31020 FOR the Target of 31205 – 31280- 31370
If Bank Nifty future share price Moves Below 31020 and sustained. Then you should Sell with 1st Target of 30960 during the day with a Stop Loss of 31135 FOR the Target of 30960 – 30897- 30820
Conclusions:
Today, there was some profit booking seen in the last hour at a higher level. The Nifty futures trend is looking sideways whereas Bank Nifty future is mild up to sideways. FIIs are the seller for the second consecutive day in the cash segment, sold Rs 1008.37 crores. Whereas DIIs are the net buyer in the cash segment for the second day, they bought Rs 537.74 crore today.
The Indian market is looking for a trigger for further move until such a period market will trade in a short-range. Traders can follow our Bank Nifty and Nifty support and resistance levels for 18th Nov 2019.
You can also read, Bank nifty| Nifty50 futures trading view for 15th Nov19
Indian stock market prediction for November 2019 Series
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