Quote on Morning Market Movement by Akshay Chinchalkar, Head of Research, Axis Securities
Below the Quote on Morning Market Movement by Akshay Chinchalkar, Head of Research, Axis Securities
The nifty fell yesterday in what is now a three-day retreat. Technically speaking, we are only consolidating the bullish rectangle breakout and as long as the 25200-25270 area is protected, bulls are merely taking a breather. Under 25200, we risk 25000. On the upside, the recent swing high at 25670 is where the bullish trigger lies. With the deadline for the tariff pause expiring next week, it will be interesting to see if the current optimism globally holds up. Today is weekly derivatives expiry, so higher than usual volatility may be seen.
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The index opened with a gap-up and remained rangebound during the first half of the session ...
