In Thursdays session, the 16,330 and 16,395 levels are likely to act as key resistance points, while supports are likely to come in at 12,200 and 12,170 levels.
Trade Setup: Nifty’s behavior against 14,650 crucial; undercurrent strong
SECTIONS
Share
Synopsis
The coming session will see the levels of 14,700 and 14,755 acting as resistance points, while support will come in at 14,580 and 14,500 levels.
Getty Images
The most important thing to look for in Thursday’s session would be Nifty’s behavior against 12,650 level.
Much on the anticipated lines, the domestic equity market continued with its strong pullback and reached the higher end of the current consolidation channel while ending the day in green.
Headline index Nifty had a better-than-expected start to the day; it got stronger as the day progressed. As the index extended yesterday’s move, it stayed within a rising trajectory while marking incremental high points. Volatility remained absent even as Nifty marched ahead making new lifetime highs. The index ended with a gain of 123.55 points or 0.85 per cent.
Trade Setup: Nifty showing clear signs of broad-ranged consolidation; remain cautious
SECTIONS
Share
Synopsis
Friday’s session was important from a technical perspective as the index confirmed the level of 14,653 as an intermediate top for the immediate near-term.
Getty Images
Monday s session is likely to have a soft start to the day. The levels of 14,470 and 14,535 will act as resistance points, while support will come in at 14,380 and 14,300 levels.
After demonstrating near-vertical rallies over the past couple of days, the domestic equity market finally showed some signs of broad consolidation on Friday.
Headline index Nifty opened on a modestly positive note on Friday but soon slipped into the negative territory after spending a few initial minutes in the green. The market traded with limited losses in a capped range until the most part of the day. However, selling pressure intensified in the last hour-and-a-half of the session. Following a modest recovery, Nifty ende
Thursday s session is likely to have a quiet start to the day. The levels of 14,610 and 14,685 will act as resistance points, while support will come in at 14,500 and 14,410.