Nifty opened on a Gap down Open from its Previous Day Close. During the Trading Session of the First Nifty manage to Made high of 11680 but fail to Give a Break out above 11700 & that lead the Market into Pressure Situation and Start to drag from its High And hit low around 11572 and Close below 11600.
Nifty closed on 11584.30 ( 10.04.2019)
Nifty Fail to Break 11700 and close below 11600 on the last day of trading. IS it Election Outcome Tension start to arise??.
As per the Technical Perspective, Market slightly under the Control of Bear as it closed below 11600.
First 30 Minute of the Trading Hour will be Crucial for the Market and especially bull. If Index Manage to cross above 11600-11620 Bar, then We can see a Good Short Covering Rally and that lead Market to hit 11660/11700.
IF Index Fail to Cross 11600 and if slip below 11570 then Nifty likely to witness the Extended profit booking on the Market and That take market to hit 11540/11500 accordingly.
F&O Ban Stocks: ADANI POWER, DLF, IDBI,JET AIRWAYS, PC JEWELLER, RPOWER, WOCKPHARMA