Daily Technical Outlook by Axis Securities Ltd
Nifty ended the previous session at 24,247, slipping 82 points. The daily chart formed a small bearish candle confined within the prior session’s high-low range, reflecting market participants' lack of directional conviction.
Bank Nifty settled at 55,201, down 169 points. The index printed a small bullish candle with a noticeable upper shadow, signalling selling pressure and resistance at higher levels, which may cap upside momentum in the near term.
Our trend score analysis of the Nifty and Bank Nifty suggests a bullish outlook on both benchmarks.
Nifty
Daily Pivots
Bank Nifty
Daily Pivots
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