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Economy

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.
11,100-11,171 crucial Nifty hurdle; two smallcaps, one largecap to bet on for the short term
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