On December 19, the Indian benchmark indices closed with slight gains after a highly volatile session, ending positively by 34 points. The Nifty marked a new all-time high at 21,505, with a Hammer candlestick pattern forming on the daily chart, indicating potential bullish momentum. A breakout above the 21,500 level could pave the way for further upward movement, targeting 21,650 and 21,750 in the upcoming days. The Nifty is likely to consolidate within the range of 21,230 to 21,500. Key support levels are at 21,300–20,200, while resistance is seen at 21,500–21,700. Despite fluctuations, the overall trend remains positive, and any current dip is viewed as a buying opportunity. Similarly, the Bank Nifty is in consolidation mode within the 47,600 to 48,200 range. Crucial support is at 47,500, and as long as it holds, the Bank Nifty is expected to resume its upward trajectory towards 48,200. Overall, the trend remains positive, and declines towards 47,700–47,600 should be considered as opportunities for buying.
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