IGI Logo

Nifty Daily Chart 

It was mentioned in our yesterday’s outlook that on upper side above 19866, Nifty may go up to 20046 & above that 20198 levels respectively. 

And on Thursday after opening at 19831, Nifty has made a low of 19758 & after crossing 19866, as per expectation has continued its upward movement & closed 146 points up near day’s high of 19991 at 19979 level forming bullish candle signaling further up move. 

Oscillators – Stochastic is quoting in overbought zone at 92 while RSI at 80 but still there is no sign of reversal in price chart. 

Now on upper side above its Thursday’s high of 19991, Nifty may go up to 20046 & above that 20198 levels respectively. 

On lower side 19851 will act as immediate support level, if it breaks it than 19758 & 19727 are next.

Above views are of the author and not of the website kindly read disclaimer