Nifty Analysis for 17th Aug

Nifty CMP- 11178.40

EOD Analysis

During the previous week we have witnessed the Nifty price to trade in the range of 11360/11270 (approx.) And its only on Friday we have seen Nifty price to broke 11270 range and made the low of 11111.45. We have also observed the high volatility on 14th Aug as mentioned in the last week analysis.

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 charts a major support can be found near 11040 range. On the other hand 11325 shall act as major resistance for the index.

Similarly one can anticipate the significant price action on 21st of Aug (High Volatility Day)

Going forward 11250 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 17th Aug –

Resistance –11204/11280/11360

Support –11152/11088/11000

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Stocks to Watch for Tomorrow –

M&M

MANAPPURAM

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

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