Trade Date- 23/07/2018
In the last trading session, Nifty closed on a positive note at 11,010 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 11,031 is broken during the day.
On a global front, U.S markets closed on a negative note losing an average of 0.03-0.07%. Asian markets however, documented a very strong closing gaining on an average 1-2%.
Trading Strategy for Nifty
Intraday traders may follow the below mentioned levels-
Buy above 11,031 for targets of 11,060/11,110.
Sell below 10,960 for targets of 10,930/10,900.
Trading Strategy for Bank Nifty
Buy above 26,880 for targets of 26,930/26,980
Sell below 26,800 for targets of 26,745/26,700