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Bulls failed to hold 11380 support. Gap Filled and Closed. Selling Pressure to continue..

Bulls failed to hold 11380 support. Gap Filled and Closed.

Nifty filled gap and closed below gap level 11380. Intraday nifty tested 11248 level this is indicating intensity of selling pressure and depth of fear among traders.
Nifty likely to test next crucial supports 11264- and 11184 levels from here.
As Bulls failed to hold 11380 support on Tuesday, they run for next crucial supports 11264 and 11184 to hold.
Never Buck the Trend.
Never try to catch the falling knife. Many stocks breaking 52 week lows and moving lower. When market is in selling mode, no need to get panic. Traders need to protect longs with stoploss orders and minimize loss wherever possible.
Fresh investors need to wait till this correction over. SIP method best suits to invest in this kind of market.
Resistance 11550-11600
Supports 11264-11184.
suryadev bandari
Research Analyst

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