Day trading guide for Tuesday

Day trading guide for Tuesday
SECTIONS
Last Updated: Jan 18, 2021, 07:37 PM IST
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Synopsis
In this process of consolidation, we do not expect Nifty to breach the key support threshold of 14,000-13,800, and rather undergo a strong base formation, which should be capitalised as an incremental buying opportunity in the best quality largecap stocks.
INSIGHTS
NSE
The weekly price action formed a Doji-like candle last week, indicating indecisiveness at a higher level amid profit booking after Sensex approached in the vicinity of the psychological mark of 50,000. Past three weeks' 12% up move (13,131-14,653) led prices to overbought conditions in multiple time frames. The bouts of profit booking after a sharp rally would be healthy for the overall trend as our broader structural bullish view remains intact.

Related Keywords

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