{"id":118052,"date":"2019-04-09T00:15:18","date_gmt":"2019-04-09T00:15:18","guid":{"rendered":"https:\/\/www.bnreport.com\/trade-setup-nifty-likely-to-extend-fall-11710-may-offer-stiff-resistance\/"},"modified":"2019-04-09T00:15:18","modified_gmt":"2019-04-09T00:15:18","slug":"trade-setup-nifty-likely-to-extend-fall-11710-may-offer-stiff-resistance","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/trade-setup-nifty-likely-to-extend-fall-11710-may-offer-stiff-resistance\/","title":{"rendered":"Trade setup: Nifty likely to extend fall, 11,710 may offer stiff resistance"},"content":{"rendered":"

In a highly volatile session, NSE<\/a> Nifty resumed its correction on Monday, as it slipped over 130 points from the days high to end 0.53 per cent lower. <\/p>\n

Mondays session has reinforced the 10,760 level as a formidable resistance point in the immediate short term. The upcoming session session is likely to see a soft start to the day and there are strong possibilities of the markets extending its corrective trail. <\/p>\n

Any upside will remain limited and the Mondays high point of 11,710 is likely to now act as lower top and immediate short-term resistance for Nifty. <\/p>\n

Tuesdays session is likely to see 11,655 and 11,710 levels pose stiff resistance. Supports may come in at 11,550 and 11,470. <\/p>\n

The Relative Strength Index (RSI) on the daily chart stood at 63.0704. The RSI has not only marked a fresh 14-period low, which is bearish, but it has shown a bearish divergence against the price. A bearish divergence occurs when the RSI marks a fresh 14-period low, while the price does not. <\/p>\n

The daily MACD has turned bearish following a negative crossover and now trades below its signal line. <\/p>\n

On the charts, an Engulfing Bearish candle has emerged. This not only lends credibility of 11,760 as a formidable resistance in the immediate short term, but also potentially establishes this as an immediate short-term resistance point. <\/p>\n

The present structure on the daily charts makes it clear that there is a very limiteRead More \u2013 Source<\/strong><\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

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In a highly volatile session, NSE Nifty resumed its correcti..<\/p>\n","protected":false},"author":1,"featured_media":118053,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-118052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nTrade setup: Nifty likely to extend fall, 11,710 may offer stiff resistance - Business News Report<\/title>\n<meta name=\"description\" content=\"In a highly volatile session, NSE Nifty resumed its correcti..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/trade-setup-nifty-likely-to-extend-fall-11710-may-offer-stiff-resistance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trade setup: Nifty likely to extend fall, 11,710 may offer stiff resistance - 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