Nifty Analysis for 10th Aug

Nifty CMP- 11214.05

EOD Analysis

We have witnessed a range bound trading session on Friday. And its only in the second half of the trading session Index crossed the range and met with Resistance near 11226. All and all index traded closely near the support level as illustrated in the below chart through out the day.

As for the Watchlist stock, Support and Resistance levels of Two stocks were published. The EOD price action of the two stocks are illustrated below along with Nifty –

As for tomorrow we anticipate the following price action-  

As per the chart 11272 shall act as major resistance and 11040 shall be a major support ( Longer Time Frame). The above levels shall significantly determine the trend in the market. 

One can anticipate the significant price action on 14th of Aug (High Volatility Day)

Going forward 11190 shall act as Trend Deciding level for Nifty. And one shall closely observe the price action near the said range.

Nifty support and resistance levels for 10th Aug –

Resistance –11240/11300/11416

Support –11190/11108/11000

___________________________________________________________________________________

Stocks to Watch for Tomorrow –

MFSL

MUTHOOTFIN

SUNTV

Support and Resistance levels for any of the above two stocks will be updated here (Stock Zest) on or before 9:30 AM

___________________________________________________________________________________

Please do share this article on other social media platforms.