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Nifty 50 index has marginally broken up through the resistance at 10860 level. Analysis of the long term chart of Nifty shows that a head and shoulder pattern is visible with right shoulder under process of formation which is not yet completed.
All those on the lookout for Nifty support can consider it as 9980 and as Nifty sustains above 10860 can target 11000,11200,11500 levels near elections. However, remember that key to this movement lies in Nifty being able to sustain 10860 level which is a make or break level for the market.
Balakot Airstrikes has done good for the Modi Govt by enhancing their image and thus their likely winning elections is high but as per analysis of History whenever a key military action has been undertaken has led to the fall of the govt in the elections. Lets see if Modi can buck the trend for the time being in 2019 elections. Have a look at Nifty chart to understand that where we are headed in future. To avoid any ambiguity in trades you can consider checking our best stocks for intraday tomorrow and trade like professionals in the market.
All those on the lookout for Nifty support can consider it as 9980 and as Nifty sustains above 10860 can target 11000,11200,11500 levels near elections. However, remember that key to this movement lies in Nifty being able to sustain 10860 level which is a make or break level for the market.
Balakot Airstrikes has done good for the Modi Govt by enhancing their image and thus their likely winning elections is high but as per analysis of History whenever a key military action has been undertaken has led to the fall of the govt in the elections. Lets see if Modi can buck the trend for the time being in 2019 elections. Have a look at Nifty chart to understand that where we are headed in future. To avoid any ambiguity in trades you can consider checking our best stocks for intraday tomorrow and trade like professionals in the market.
