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Key Highlights

NIFTY manages to sustain above 50 Day SMA….

NIFTY SPOT: 17873.60 (-0.80%)

DYNAMIC PARAMETER: NIFTY formed Lower Top Lower Bottom pattern.

TRADING ZONE: Resistance: 17971 (Day High) / 18083 (50 Day SMA)

Support: 17775 (50 Day SMA) / 17613 (Swing Low)

BROADER MARKET: MIXED, MIDCAP 31782 (-0.82%), SMALLCAP 11145 (-0.51)

Advance-Decline: 787 / 1207

VIEW: Bearish till below 18083 (20 Day SMA).

BANKNIFTY SPOT: 38560.20 (-1.19%)

DYNAMIC PARAMETER: Index formed Lower Top Lower Bottom formation.

TRADING ZONE:

Resistance: 38930 (Day High) / 39223 (Gap Resistance)

Support: 38264 (50 Day SMA) / 38000 (Key Support)

VIEW: Bearish till below 39704 (20 Day SMA).

Technical Snapshot

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