Daily Pre-Market Analysis - 11th August | Nifty - Approaching Targets | Weekly Expiry View |

SGX Nifty Live @ 17,750

Watch out for:

1. Nifty - Approaching Targets
2. Bank Nifty - Can lead the rally
3. Capital Goods - Play with the trend

Have a Profitable Day!

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https://youtu.be/nPL0pBFJxxk

Bank Nifty above 39,555 (spot), it can be Banks Day Out!

#weeklyexpiry

Nifty Bulls in danger on Weekly Expiry Day 📈📉

After opening gap-up yesterday, the bulls lost its plot to bears from opening and intraday traders made most of the gains.

SGX Nifty signals the bears are in control of the momentum as the breakdown from rising channel (green parallel lines on chart) marks an end to the minor bullish trend.

If there is something for bulls to hold the trend are two orange horizontal trendlines suggesting the support area of 18,120-18,000 levels.

The derivative structure of today's expiry signals 18000-18100 as major support and 18,300 being the resistance area.

Unfortunately, the 18,300 tends to be the channel breakdown retest level too.

Today's expiry is likely to be in the range of 18,000-18,300 zone.

The bulls can be in the game only on a break of 18,400.

#SGXNifty
#WeeklyExpiry
#KeepItSimple

Nifty - Expect a Range Trading between 17,570-17,870 📈📉

The bearish belt-hold candlestick pattern, previous swing high and the gap support signal the market may trade in a range for a day or so.

The consecutive day's bearish belt-hold pattern turns the table from bullish to bearish on the chart.

Bulls can be in the game only above 17,900.

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#WeeklyExpiry
#KeepItSimple