HAPPY NEW YEAR -2019
Nifty closes the December 2018 series @ 10780 failing to rise above 11K levels and has marginally risen from the close of 10480 in 2017.
The year 2019 January series begins with the indices in a consolidation phase with 10675 becoming a pivotal point. The market seems to have priced in most events. The result season starting mid January is what the market is looking forward to. The crucial level of support is 10675 for the month of January 2019. Happy New Year ! Happy Trading !
FEBARUARY 2019 SERIES
The EMA/SMA levels above clearly points out to consolidation of Nifty between 10650 to 10900 levels during the January series. With the interim budget due to be presented today, the breakout zone for February series is 10850 level and breakdown zone is 10650 level. Not much can be expected for the market to do reacting to an interim budget. Trading the levels using EMA/SMA as a guideline is the way forward for trading February series. Happy trading !
MARCH SERIES 2019
Nifty has consolidated around the 10800 levels over the past 4 months with swing high of 11100 upside and 10550 on the downside. With result season out of the way and the financial year ending March, nothing much can be expected for the markets to do two months prior to the general election and market is likely to trade sideways and remain in this range of 11100 to 10550 in the March series. Happy trading!
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