Market opened on positive note with a gain of 112 Nifty points on 26 April 2019 the first day of MAY Series and closed at 11754.65.
EXPECTATION AHEAD :-
SUPPORTS : First Support comes at 1728 Second Support comes at 11715 and Third Support comes at 11707 and last Support comes at 11696. This last support of 11696 is very crucial if it breaks than lowest Support comes at 11665 to 11658 levels which does not reflect at least now.
GROWTH : (RESISTANCES) :- So far the growth in the MAY series is concerned it seems to be very fast and the FIRST TARGET FOR NIFTY SEEMS TO BE SOMEWHERE AT 11860 levels.
RESISTANCE :- The first Resistance is at 11766 Second Resistance at 11796 and third is at 11810 and finally the Growth First Target of 11860. This level of 11860 is very important level which will be the MARKET TREND DECIDING POINT 11860. If market attains this level and closes near or beyond it we can expect further growth in the markets.
IMPORTANT LEVELS OF 11700 AND 11800 LEVELS are the most volatile levels and the most uncertain levels nothing can be taken for granted because of two holidays in this week that is on 29 April 2019 and 01 May 2019 so again great uncertainties to keep tally with the GLOBAL MARKETS BECAUSE GLOBAL MARKETS ARE NOT CLOSED ON THESE DAYS.
BANK NIFTY :-
Bank Nifty was at its best during the April Series and may or likely to perform in MAY Series if it breaks it s first RESISTANCE of 30400 levels than another NEW TOP OTHER THAN 30669 IS ANTICIPATED AND WHICH LOOKS QUITE POSSIBLE.
NIFTY IT :- Nifty IT is also strong technically and already at a new high of 16500 levels heading towards 17000 levels
NIFTY FMCG and NIFTY PHARMA Both look promising and may perform accordingly.
TO CONCLUDE :- On 30 APRIL 2019 will be a clear trend deciding day with a hope of Market closing positive on 30th APRIL 2019 so that further growth can be expected.
market analysis 