Quote on�Daily Market Movement by Akshay Chinchalkar, Head of Research, Axis Securities

2025-01-17 10:32:27 am | Source: Axis Securities Ltd

Quote on�Daily Market Movement by Akshay Chinchalkar, Head of Research, Axis Securities

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Below the Quote on Daily Market Movement by Akshay Chinchalkar, Head of Research, Axis Securities

The nifty rallied for the third straight day yesterday - the first time that happened since December 5th. Although the daily regime is bearish, one needs to note that the Monday lows took support at the weekly Ichimoku cloud. The next seven days represent an important time window, but bulls will really need to get past the immediate hurdle at 23471 to extend the advance. Any failure to do that and ideally take out 23820 on a daily close-basis over the next few sessions will mean that the rebound was merely the result of short-covering than big-money accumulation.

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Quote on�Daily Market Movement by Akshay Chinchalkar, Head of Research, Axis Securities

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