The Nifty 50 formed a bearish candlestick pattern with a sizeable upper wick on the daily charts, coupled with above-average volumes. This follows a phase of rangebound trading over the past four sessions, signaling weakness. With the break below the 200-day EMA, the index is now trading beneath all key moving averages, reflecting a negative bias. Momentum indicators such as RSI, MACD, and KST also indicate bearish sentiment.
Key Levels For The NIFTY :-
Resistance based on pivot points: 23,841, 23,915, and 24,036.
Support based on pivot points: 23,599, 23,525, and 23,404.
Key Levels For The NIFTY :-
Resistance based on pivot points: 23,841, 23,915, and 24,036.
Support based on pivot points: 23,599, 23,525, and 23,404.