Nifty broken the seven session winning streak and witnessed minor correction - HDFC Securities
Daily Technical View on Nifty
* Nifty broken the seven session winning streak and witnessed minor correction
* BankNifty outperformed the Nifty by closing in green.
* At present benchmark indices like Nifty, BankNifty, FinNifty, Nifty500, Nifty100, Nifty200, Midcap100 and Smallcap 100 are placed near their all-time highs.
* Immediate Support for the Nifty has now shifted up at 20850 odd levels.
* Below 20850, Nifty could extend the fall towards 20700
* Immediate resistance for the Nifty is seen at 21000
* Above 21000, resistance for the Nifty is seen at 21193, which happens to be 61.8% Fibonacci extension level of the swing seen from 16828(March 2023 Bottom) to 20222(Sep 2023 Top) and from 20222 to 18837(Oct 2023 Bottom).
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