11,100-11,171 crucial Nifty hurdle; two smallcaps, one largecap to bet on for the short term
Updated : July 17, 2018 08:04 PM IST
Nifty surpassed the 78.6% retracement of the fall from 11,171 to 9,951 as well as the May high of 10,929.
As per the principle of role reversal, all these parameters that earlier acted as resistances shall now assume the role of supports.
The daily as well as weekly Bollinger Bands are in expansion mode, thus allowing the bulls to stretch their arms. Momentum indicators on these time-frames are in favour of the bulls.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more