Quote on Morning Market 14 July Mr. Akshay Chinchalkar, Head of Research, Axis Securities
Below the Quote on Morning Market 14 July Mr. Akshay Chinchalkar, Head of Research, Axis Securities
The nifty dropped 205 points on Friday, its biggest daily percent drop since over a month. Technically speaking, Friday's candle had a long upper shadow and a close near the lows, and that's weak behavior. The area that lies between 25000 and 25127 is critical support from hereon, but bulls will have to both defend support and record at least one daily close above 25340 to reverse the ongoing dip. The market has closed below a short-term rising channel, so under 25100, we might see a test of the 24900 to 25000 zone where another channel is currently offering support. Today's cues from Asia are weak and US index futures are down around 0.4%
Above views are of the author and not of the website kindly read disclaimer
More News
Quote on Nifty by Rupak De, Senior Technical Analyst at LKP Securities
