Technical charts suggest the short-term trend of Nifty is likely to be range-bound with a weak bias. A move below the immediate support of 23,250 could indicate the beginning of a shortterm downward correction, according to technical analysts. For short-term trading, analysts recommend stocks such as SBI, IDFC First Bank, Granules, Infosys, HCL Tech, M&M … Read more
Nifty ended Tuesday’s session 6% lower at 21,884.50 to form a long bearish candle on the daily chart and also ended below short-term and medium-term averages. For traders now, 50-day SMA or 22,400/73,500 and 22,500/74,000 would be the key resistance areas while 21,600-21,300/71,000-70,200 would act as key intraday support zones. “We are of the view … Read more
Nifty ended the Thursday weekly expiry stronger by 370 points at record high levels to form a long bull candle on the daily chart. On the higher end, above 23,000, the index might move towards 23,500 in the short term. On the lower end, support is placed at 22,800; the strength could remain intact as … Read more
