Nifty took a U-turn after hitting a new all-time high of 25482 in the first half - HDFC Securities
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Daily Technical View on Nifty
* Nifty took a U-turn after hitting a new all-time high of 25482 in the first half.
* Nifty erased all the gains in the second half and closed the session with the loss of 41 points or 0.16% at 25377.
* It failed to find a direction for the fourth consecutive session and remained within a narrow range.
* Broad market indices ended in the negative, and losers outnumbered winners by the ratio 6 to 4.
* Nifty Microcap and Small-cap indices underperformed the Nifty by registering a daily fall of 0.47% and 0.39% respectively.
* An upward sloping trend line adjoining the previous two swing highs of 25078 and 25333 is giving strong resistance in the zone of 25450-25500.
* Nifty must surpass the hurdle of 25500 for momentum to pick up. On the lower side, a band of 25100-25200 would offer support.
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