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Key Highlights

NIFTY closes below 20 Day SMA for the 1st time after 3 months

NIFTY SPOT: 17857.25 (-1.94%)

DYNAMIC PARAMETER: NIFTY formed Lower Top Lower Bottom pattern.

TRADING ZONE: Resistance: 18017 (20 Day SMA) / 18190 (Day High)

Support: 17799 (Day Low) / 17613 (Key Support)

BROADER MARKET: Inline, MIDCAP 30514 (-1.96%), SMALLCAP 10817 (-1.85)

Advance-Decline: 445 / 1544

VIEW: Bearish till below 18017 (20 Day SMA).

BANKNIFTY SPOT: 39508.95 (-3.34%)

DYNAMIC PARAMETER: Index closed at 3 Day Low.

TRADING ZONE:

Resistance: 40000 (Intraday Resistance) / 40477 (Key Resistance)

Support: 39350 (Day Low) / 38986 (20 Day SMA)

VIEW: Bearish below 38986 (20 Day SMA).

Technical Snapshot

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