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Daily Technical View on Nifty

• Nifty opened sharply lower on the back of weak global markets, though made a day’s bottom in the first 5 minutes of the trade at 25083.

• Markets went on to make a smart recovery of 115 points from the day’s low and closed at 25198 with a loss of 81 points or 0.32%.

• Nifty Midcap 100 and Small cap 100 indices recovered sharply from the early morning lows and closed with the minor losses.

• Declining shares outnumbered the advancing shares where advance decline ratio stood at 0.96 on BSE

• Nifty found support near the previous swing high of 25078, registered on 1st Aug 2024 and reversed north.

• The band of 25000-25078 is expected to provide support to the Nifty, while 25300- 25350 band could offer resistance in the short term.

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SEBI Registration number is INZ000171337