IGI Logo

Daily Technical View on Nifty

* After yesterday’s sharp recovery from the lower levels, Nifty continued its upward journey and registered a fresh all time of 21210.

* Nifty surged 256 points to close at 21183.

* Advancing shares outnumbered the declining shares for the second day in the row as advance decline ratio stood at 1.21 levels on BSE.

* Psychological resistance of 21000 now becomes support for Nifty now.

* Next resistance for Nifty is seen at 21530, which happens to be 78.6% extension level of the recent swings.

* Indicators and oscillators have turned bullish on hourly chart

* Primary trend of the Nifty is bullish and dips should be utilized to go long

Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795

SEBI Registration number is INZ000171337