Nifty Climbs 114 Points Intraday, As US-China Trade Talks Look Optimistic






The Outlook for 9th January 2019
Nifty Daily Chart Levels
In today’s trading, Nifty Future witnessed an upside rally of 114 points as the index took support around the range low of 10750 approx. Today’s up move was triggered by the optimistic progress of the US-China trade talks.
Going forward, Nifty is likely to find support around tomorrows range low, and the upside target will be 10900 approx. However, if Nifty trades below tomorrows range support, it will scale down to 10700 approx.

Nifty Hourly Chart Levels
In the hourly session, Spot Nifty has closed around 10802 approx. The index is likely to find support around 10755 approx. The nearest upside target is around 10848 approx. However, if Nifty trades below tomorrows range support, it will scale down to 10675 approx. 



Bank Nifty Options Data

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India’s benchmark Nifty took support around today’s range low of 10750 approx as the US-China trade talks progressed with optimism. The index witnessed 114 points upside rally intraday as US commerce secretary made a statement that “there's a very good chance that we will get a reasonable settlement”. The 10900 and 11000 strike Call option buyers booked 40% and 44% returns intraday as Nifty made a high of 10870 approx. Can this positive move, trigger a buy breakout tomorrow?

Going forward, Nifty is likely to find support around tomorrows ranges low. The upside target for the index will be around 10900 approx.





The Outlook for 9th January 2019
Nifty Daily Chart Levels
In today’s trading, Nifty Future witnessed an upside rally of 114 points as the index took support around the range low of 10750 approx. Today’s up move was triggered by the optimistic progress of the US-China trade talks.
Going forward, Nifty is likely to find support around tomorrows range low, and the upside target will be 10900 approx. However, if Nifty trades below tomorrows range support, it will scale down to 10700 approx.

Nifty Hourly Chart Levels
In the hourly session, Spot Nifty has closed around 10802 approx. The index is likely to find support around 10755 approx. The nearest upside target is around 10848 approx. However, if Nifty trades below tomorrows range support, it will scale down to 10675 approx. 



Bank Nifty Options Data

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