The Nifty ended Thursday’s session at 17640, down 168 points, 0.9%. In the coming session - ICICI Direct
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/04/11e71c34598e7d6013e28bcd937b4276.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
Technical Outlook
Equity benchmarks concluded the weekly expiry session on a subdued note tracking muted global cues. The Nifty ended Thursday’s session at 17640, down 168 points, 0.9%. In the coming session, index is likely to open on a flat note amid muted global cues. The slower pace of retracement signifies healthy correction. Thus, we expect buying demand to emerge at lower levels post RBI Policy outcome. Hence, use intraday dips towards 17706-17738 for creating long position for target of 17795 Key point to highlight is that, over past three sessions index has retraced 61.8% of preceding two sessions up move. Lack of faster retracement signifies healthy retracement of recent up move that would help the index to cool off the overbought conditions and pave the way for next leg of up move as the elongation of rally signifies improving price structure. Hence, investors should focus on buy on dips strategy as we expect buying demand to emerge in the 17700-17500 zone
Nifty Daily Chart
To Read Complete Report & Disclaimer Click Here
https://secure.icicidirect.com/Content/StaticData/Disclaimer.html
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/Ashok Leyland.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/PNB Housing Finance Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/rupee dollar.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Karandlaje26.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/indusrty26.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/MyGov26.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Lic_22.12.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/HDFC Securities.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Motilal oswal Finacial Services_56.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/homefirst_logo.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/c9081e7b22f028209f4e4f0589c3c0c9.jpg)
Stock Picks : TCS Ltd And Chambal Fertiliser Ltd By ICICI Direct
![MCX Silver is expected to rise back towards 72,500 level as long as it sustains above 71,500 level - ICICI Direct](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/8dae740ddf7179ae23407b7362e80348.jpg)
![Euro remained under pressure on Thursday amid weaker set of economic numbers from Euro zone - ICICI Direct](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/c49d5573f54fd1fe07309fbce5369a52.jpg)
![The index started the session on a muted note tracking subdued global cues - ICICI Direct](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/8f1a19117fbd648f8fd1a5bbf2afbebc.jpg)
More News
![](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
Nifty has an immediate support placed at 19700 and on a decisive close below expect a fall t...
![Morning market quote : The US 10-year yield hovering around 5% continues to be a headwind for equity markets Says Dr. V K Vijayakumar, Geojit Financial Services](https://portfolio.investmentguruindia.com//uploads/news/broker_86.jpg)
![View on Bank Nifty : The Bank Nifty index continued its upward momentum Says Kunal Shah, LKP Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/07/a394ab85b94ac22b488e2ea622033117.jpg)
![The Nifty ended below the 15,700 mark. Barring the IT and FMCG index, all the sectoral indices on the NSE ended in the red - Nirmal Bang](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/06/4cf8cf5025faf5f22c968da3646dbd2e.jpg)