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Nifty outlook and technical calls by Vinay Rajani - PCG Desk, HDFC Securities:
Nifty View
Nifty has broken down below the crucial support of 10300, which was derived from the upward sloping trend line on the daily charts. Nifty has also violated the previous bottom support of 10276, registered on 6th Feb 2018. Yesterday, Nifty plunged 225 odd points from day’s high, to close below 10249. Immediate support for Nifty is seen at its 200 DMA, currently placed at 10125.
Yesterday’s fall resulted in to a breakdown from the ascending triangle on the short term charts. Far
Nifty View
Nifty has broken down below the crucial support of 10300, which was derived from the upward sloping trend line on the daily charts. Nifty has also violated the previous bottom support of 10276, registered on 6th Feb 2018. Yesterday, Nifty plunged 225 odd points from day’s high, to close below 10249. Immediate support for Nifty is seen at its 200 DMA, currently placed at 10125.
Yesterday’s fall resulted in to a breakdown from the ascending triangle on the short term charts. Far
