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Below is the Views On Daily market quote by Mr. Nagaraj Shetti, Technical Research Analyst, HDFC securities
Nifty closed the day lower amidst a range movement, the bulls to make a comeback : HDFC securities
The choppy trend continued in the market and the Nifty closed the day lower amidst a range movement. A small body of negative candle was formed today with minor lower shadow. Technically, this pattern indicates a choppy trend in the market.
The Nifty is currently facing stiff resistance at 11,120-150 levels at the highs, but the selling momentum from the highs seems to have reduced in the last couple of sessions. This could be a relief factor for the bulls to make a comeback from the lower levels. Immediate supports to be watched at 10,980-960 levels.
HDFC Securities Limited (HSL) is a SEBI Registered Research Analyst having registration no. INH000002475
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