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Below is the Views On Technical Note on today's market performance By Nagaraj Shetti - Senior Technical & Derivative Analyst, HDFC securities
Nifty witnessed a smart upside bounce today, expect overhead resistance around 11800-850 in next 1-2 sessions
Nifty witnessed a smart upside bounce today from near the key lower support of 11625-650 levels (which is near the previous upper gap area) and closed higher. We observe a formation of long bull candle from near the support today, which signals an emergence of buying interest from near the supports.
The broader trend of the market is stuck within a high low range of 11800-11625 levels. Further up move from here is expected to find key overhead resistance around 11800-850 levels in the next 1-2 sessions.
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