Nifty opened lower with 90 points down gap 15545 - HDFC Securities
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Daily Technical View on Nifty
* Nifty opened lower with 90 points down gap 15545
* Post opening, Nifty witnessed selling pressure building in. Nifty lost more than 200 points and closed at 15413.
* Support for the Nifty is seen in the range 15380-15400. Below 15380, selling pressure is expected to intensify
* fter significant pullback rally registered in previous session, Nifty failed to register follow up buying in yesterday’s session.
* During pullback, Nifty found resistance at 10 days EMA, which is currently placed at 15671.
* Nifty needs to surpass 15750 resistance to negate the short term down trend
* Primary trend of Nifty has been bearish, as it has been holding below all important moving averages
* Medium term supports for Nifty are seen at 15190 and 14800
* Indicators and oscillators have been indicating bearish trend for Index.
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