Trade Date- 18/07/2018
In the last trading session, Nifty closed on a positive note at 11,008.05 levels, above its 20 day SMA and 10 Day SMA. Closing above 20-Day SMA indicates a strong closing and may require a quick action from buyers if Intraday resistance of 11,020 is broken during the day.
On a global front, U.S markets closed on a negative note losing an average of 0.35-0.50% on 16th July. Asian markets closed with losses amounting to an average of 0.80-1.35%.
Trading Strategy for Nifty
Intraday traders may follow the below mentioned levels-
Buy above 11,012 for targets of 11,040/11,080
Sell below 10,974 for targets of 10,945/10,935
Trading Strategy for Bank Nifty
Buy above 27,014 for targets of 27,065/27,108
Sell below 26,835 for targets of 26,790/26,720