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Nifty View
Nifty fell for the third consecutive session, to close at 17,826. Bank Nifty, meanwhile, closed at the lowest level since January 31, 2023.
As benchmark index Nifty has been seen forming lower tops and lower bottoms on the hourly charts, this, therefore, indicates a short term down trend.
While the support for the Nifty was seen at its previous swing low of 17,719, below which bearish trend would find momentum; the resistance was shifted down to 18,000 odd levels in the Nifty.
Above 18,000, Nifty is expected to find upward momentum. However, breadth is continued
As benchmark index Nifty has been seen forming lower tops and lower bottoms on the hourly charts, this, therefore, indicates a short term down trend.
While the support for the Nifty was seen at its previous swing low of 17,719, below which bearish trend would find momentum; the resistance was shifted down to 18,000 odd levels in the Nifty.
Above 18,000, Nifty is expected to find upward momentum. However, breadth is continued
