GET THE LIVE TRADING TIPS ON WHATSAPP.. SEND YOUR NAME & SEGMENT ON WHATSAPP NUMBER 9039542248
Weakness in European market and Nifty’ slide into the red prompted investors to trim their bullish bets. But Indian market still ended in the green, thanks to traders betting heavily on IT, metals and real estate stocks. However, global inflation concerns and continued central bank rate hikes have unsettled markets and kept investors on edge amid fears of a global slowdown. The Nifty started to open and remained volatile throughout the day. Indian benchmark indices ended the volatile session on positive terms with Nifty above 17,300. Finally, the Sensex rose 156 points to 58,222 and the Nifty rose 57 points to 17,331. On daily charts, the Nifty has formed a small bearish candle, indicating temporary weakness. However, the medium-term sentiment is still bullish. Fresh uptrend is possible only after breakout of 17400 and above that index might reach 17450-17500 levels. On the otherside, the index could slip below 17300 to 17250-17200.
Resistance: 17400,
17550, 17700
Support: 17300,
17150, 17000
No comments:
Post a Comment