Trade Date- 17/07/2018
In the last trading session, Nifty closed on a negative note at 10,936.85 levels, below its 20 day SMA and 10 Day SMA. Closing below 20-Day SMA indicates a weak closing and may require a quick action from shorters if Intraday support of 10,925 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%. European markets closed with losses amounting to an average of 0.30-0.45%.
Trading Strategy for Nifty
Intraday traders may follow the below mentioned levels-
Buy above 10,960 for targets of 10,982/10,995
Sell below 10,925 for targets of 10,904/10,880
Trading Strategy for Bank Nifty
Buy above 26,725 for targets of 26,750/26,785
Sell below 26,650 for targets of 26,610/26,560