The Nifty 50 formed a bearish candlestick pattern with upper and lower shadows on the daily timeframe, indicating volatile trade. However, the index still traded above all key moving averages and in the upper band of the Bollinger Bands. It also took support at the downward-sloping resistance trendline, but it needs to break into the upper band of the Bollinger Bands on the weekly timeframe to confirm a strong upward trend.
Key Levels For The NIFTY :-
Resistance based on pivot points: 24,752, 24,795, and 24,863.
Support based on pivot points: 24,615, 24,573, and 24,504.
Key Levels For The NIFTY :-
Resistance based on pivot points: 24,752, 24,795, and 24,863.
Support based on pivot points: 24,615, 24,573, and 24,504.