Trade Setup for Monday
According to pivot charts, the key support levels for the Nifty is placed at 11,439.37, followed by 11,373.73. The market lost momentum in last hour of trade amid mixed global cues on September 18 as bears turned strong due to selling pressure in banking & financials though hefty buying in pharma stocks capped losses to some extent. The BSE Sensex was down 134.03 points to close at 38,845.82, while the Nifty50 fell 11.10 points to 11,505 and formed Bearish Belt Hold kind of pattern on daily charts. For the week, it gained 0.4 percent and witnessed Doji kind of formation on weekly scale. Experts see rangebound movement in coming sessions and advise investors to stay cautious given the profit booking taking place on every rise. "Nifty continued to rest on the support of 200-day EMA and has failed to show any significant upside bounce from there. We observe 7-8 sessions of range movement on the daily chart and that has eventually resulted in a downside breakouts, after opening hi
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