 "technicals")
Over the last few weeks, the Nifty has been stuck in a range between the 50-day SMA and 20-day SMA. On the daily chart, we can see that after briefly moving above the 20-day SMA, the Nifty has once again moved below the 20-day SMA on Tuesday.
In the process, the Nifty has corrected and broken its recent supports, implying the short-term bias is weak. The Nifty is likely to drift down further towards the next major supports of 17,905-17,798 in the very near term. Any pullback rallies could find resistance at 18,133.
The below picks are for
In the process, the Nifty has corrected and broken its recent supports, implying the short-term bias is weak. The Nifty is likely to drift down further towards the next major supports of 17,905-17,798 in the very near term. Any pullback rallies could find resistance at 18,133.
The below picks are for
