Trade Date- 19/07/2018
In the last trading session, Nifty closed on a negative note at 10,980.45 levels, above its 20 day SMA and 10 Day SMA. Closing above 20-Day SMA indicates strength and may require a quick action from buyers if Intraday resistance of 11,000 is broken during the day.
On a global front, Asian markets closed on a negative note losing an average of 0.35-0.50% on 18th July.
Trading Strategy for Nifty
Intraday traders may follow the below mentioned levels-
Buy above 11,000 for targets of 11,032/11,060
Sell below 10,975 for targets of 10,945/10,930
Trading Strategy for Bank Nifty
Buy above 26,940 for targets of 26,990/27,120
Sell below 26,860 for targets of 26,820/26,745