Trade Date- 20/07/2018
In the last trading session, Nifty closed on a negative note at 10,957.10 levels, but much 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 10,981 is broken during the day.
On a global front, U.S markets closed on a negative note losing an average of 0.45-0.55% on 19th July.
Trading Strategy for Nifty
Intraday traders may follow the below mentioned levels-
Buy above 10,981 for targets of 11,005/11,040
Sell below 10,948 for targets of 10,928/10,907
Trading Strategy for Bank Nifty
Buy above 26,805 for targets of 26,840/27,887
Sell below 26,775 for targets of 26,722/26,682