Nifty daily chart has formed `Ascending broadening wedge` pattern - Enrich Commodities
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/03/1e5b338314ef958d7fe382c62229d1f5.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
NIFTY MORNING OUTLOOK
Pre-Market Tuesday! Asian market negative trading, Nifty50 on the SGX were trading lower at 15082.80 -27.50 points on indicating gap down opening for the NSE.
At the close in NSE, the Nifty 50 gained 0.12%, while the BSE Sensex 30 index climbed 0.07%.
The biggest gainers of the session on the Nifty 50 were UPL Ltd, which rose 6.49% or 38.40 points to trade at 629.95 at the close. GAIL Ltd added 4.76% or 7.00 points to end at 154.15 and Larsen & Toubro Ltd was up 3.53% or 51.65 points to 1515.20 in late trade.
Biggest losers included Bajaj Finance Ltd, which lost 2.28% or 124.25 points to trade at 5320.65 in late trade. Shree Cements Ltd. declined 2.19% or 608.60 points to end at 27240.00 and IndusInd Bank Ltd. shed 2.08% or 21.65 points to 1018.25.
The breadth, indicating the overall health of the market, 1665 rose and 1356 declined, while 199 ended unchanged on the India National Stock Exchange.
Rupee desk: The USD/INR was up 0.04% to 73.207.
Technical outlook
Nifty daily chart has formed "Ascending broadening wedge" pattern. The last few sessions ended up sideways mode along with some corrections inside the channel. The market is expected to continue on bearish momentum based on current price action, once the same break below the current key support holding near 14850. The downside rally could be testing all the way up to 14700-14550 levels in the upcoming sessions. Alternatively, if the market struggles to break the support, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 15300.
Technical Chart
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://enrichbroking.in/disclaimer
SEBI Registration number is INZ000078632
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/MP Ahammed.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Fintech Pre-budget expectation.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/uttarpradesh57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget_3.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Cyberpeace.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Hydrogen.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Honda India Foundation (HIF) signs MOU with Marriot Group of Hotels.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/accel57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Rupee Dollar.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/10/fe8534932efc96b9b08ca9a64baa9949.jpg)
A slide to 6360 is also a possibility if the price makes or break above the current resistan...
More News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/08/cc5cca2a6f43c195fa535f5bbdbc9230.jpg)
Quote on should investors average their position in this market correction by Mr. Yash Gupta...
![The Nifty August rollover stands at 44.52% on Tuesday compared to 38.36% on same day of previous expiry - Axis Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/08/0f7d4587cd9b2e1780d8a7f0f37d5e34.jpg)
![Nifty Opened with an upward gap and remained in positive terrain throughout the day - Jainam Share Consultants](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/09/1adf7dd3fad5e655c4f450873237ab52.jpg)
![Quote on Today`s Market Performance 29 January 2021 by Mr. Deepak Jasani, HDFC Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/01/6d738095992b96a791e3192c8afbceae.jpg)