Nifty rose for the third consecutive session to close at yet another new all time high - HDFC Securities
![](https://portfolio.investmentguruindia.com/uploads/news/HDFC 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
Daily Technical View on Nifty
Market: Observation
* Nifty rose for the third consecutive session to close at yet another new all time high.
* Nifty rose for the third consecutive session to close at 23841.91 with the gain of 0.62%.
* A level of 23660 has become new support for the Nifty and with that stoploss trading long positions should be held.
* On the higher side, next resistance is seen at 24125, which happens to be 138.2% Fibonacci retracement of the entire fall seen from 23338(3 rd June Top) to 22281(4th Jun Bottom).
* Nifty has been forming higher tops and higher bottoms on the hourly chart, which indicates the bullish trend on short term time frame.
* Telecom, Private sector Banking, Oil & Gas and Cement stocks closed on a strong wicket and are likely to perform well for the short term.
* Small cap and Midcap indices are showing sign of short term consolidation
Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795
SEBI Registration number is INZ000171337
![](https://portfolio.investmentguruindia.com/uploads/news/Transport Corporation of India Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Repco Home Finance.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Tata Consumer Products Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Ranjan Dhar, Director and Vice President, ArcelorMittal and Nippon Steel India.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/mahindra and mahindra.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Biocon Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Biocon Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/LIC Housing Finance Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Motherson Sumi Wiring India Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Manoranjan Sharma, Infomerics Ratings.jpg)