Ideal Stock | 15 things you should know

What changed for the market while you were sleeping? 
The Nifty index future, which started on a flat note on Friday, gained momentum and reclaimed its crucial resistance level of 10,800, but last hour selling saw it close at 10,772.

The index option formed a ‘Shooting Star’ kind of pattern on the daily charts and a 'hammer’ kind of pattern on the weekly scale.

The Nifty took support at its 13-day exponential moving average (EMA) and bounced back to close at 10,772 levels. It hit an intraday low of 10,735 and an intraday high of 10,816.35.

India VIX fell down 1.11 percent to 12.45. It has been falling down for the last four trading sessions. Lower volatility indicates limited downside in the market till it remains below 13.50 zones.

According to Pivot charts, its key support level is placed at 10,733.03, followed by 10,693.37. If the index starts moving upwards, the key resistance levels to watch out are 10,814.33 and 10,855.97.

The Nifty Bank index closed at 26,493.8. The important Pivot level, which will act as crucial support for the index, is placed at 26,399.27, followed by 26,304.73.

On the upside, key resistance levels are placed at 26,599.07, followed by 26,704.33.


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Ideal Stock | 15 things you should know Ideal Stock | 15 things you should know Reviewed by Ideal Stock on July 09, 2018 Rating: 5

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