Nifty has entered the anticipated caution zone of 22750-22990 which may be a profit booking zone for this month - Tradebulls Securities Pvt Ltd
![](https://portfolio.investmentguruindia.com/uploads/news/Tradebulls Securities.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
Nifty
Nifty has entered the anticipated caution zone of 22750-22990 which may be a profit booking zone for this month. During its previous it faced profit booking pressure around the same as it restricted its action within the ‘Bearish Belt Hold’ formation reconfirming the resistance. On the other hand, Nifty Bank is still displaying enough strength to climb further towards 49600 zone once it clears the 49000 level which could eventually help the index to spend some time within the 22750-22990 zone. Both its trend strength indicators are trending higher with RSI around 65 followed by ADX at 32 level which compliments the ongoing up move to sustain. Option data states that 22500 should continue to act a as dependable support zone while 22800 remains an immediate hurdle followed by 23000. Since the index is in close proximity of its weekly channel upper end & a firm reversal formation is missing its ideal to remain cautious while chasing any breakout moves & continue the buy on declines strategy until 22360 holds.
Please refer disclaimer at https://www.tradebulls.in/disclaimer
SEBI Registration number is INZ000171838
![](https://portfolio.investmentguruindia.com/uploads/news/insurance 123.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Wipro.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/2b1715f7e03b51b0ac9c014eb224fc1f.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/gdp22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dollar retures 2.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/health22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Arvind Kapil, MD and CEO, Poonawalla Fincorp.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/stock8.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/stock8.jpg)
Sensex ends lower ahead of Union Budget 2024-25
![Daily Market Analysis : The markets began the week on a subdued note and ended nearly unchanged, reflecting caution ahead of the Union Budget Says Mr. Ajit Mishra, Religare Broking Ltd](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![Post Market Comment by Mandar Bhojane, Research Analyst, Choice Broking](https://portfolio.investmentguruindia.com/uploads/news/Broker _26.jpg)
![Mid-Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker](https://portfolio.investmentguruindia.com/uploads/news/Shrey Jain.jpg)
More News
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _26.jpg)
Post-market comment by Deven Mehata ,Research Analyst, Choice Broking
![The index opened with an upward gap and traded with a positive bias in the initial half - Axis Securities Ltd](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![Daily Market Commentary : The index closed with a loss of 247 points (-1%) at 21951 levels Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/uploads/news/Broker _17.jpg)
![Quote on Nifty : Bulls successfully regained control from bears, pushing Nifty back above the 20,000 mark Says Rupak De, LKP Securities](https://portfolio.investmentguruindia.com/uploads/news/27bd7a83f730b04eb8727b2e9822995a.jpg)