Posts
The BankNifty index experienced its first meaningful correction after a nonstop rally in the past week. For the selling pressure to continue, there needs to be follow-up selling; otherwise, the index may get stuck in a consolidation range. The immediate support is at 52000, where the highest open interest is built up on the put side, while the immediate resistance lies in the 52700-53000 zone.
The BankNifty index experienced its first meaningful correction after a nonstop rally in the past week. For the selling pressure to continue, there needs to be follow-up selling; otherwise, the index may get stuck in a consolidation range. The immediate support is at 52000, where the highest open interest is built up on the put side, while the immediate resistance lies in the 52700-53000 zone.
Posted by
Able
on
- Get link
- Other Apps
The index formed a small-bodied red candle, breaking a four-day winning streak. The sentiment continues to remain strong as the index closed significantly above the critical moving average. However, after a continuous rally, the index looks a bit heavy and might attract profit booking if Nifty sustains below 24,000. On the lower end, the index might fall towards 23,850/23,700 in the short term upon a decisive fall below 24,000. On the higher end, resistance is visible at 24,200.
The index formed a small-bodied red candle, breaking a four-day winning streak. The sentiment continues to remain strong as the index closed significantly above the critical moving average. However, after a continuous rally, the index looks a bit heavy and might attract profit booking if Nifty sustains below 24,000. On the lower end, the index might fall towards 23,850/23,700 in the short term upon a decisive fall below 24,000. On the higher end, resistance is visible at 24,200.
Posted by
Able
on
- Get link
- Other Apps
Nazara Tech arm to acquire balance 86.49% stake of Freaks 4U for around Rs 271.48 crore via share swap
Nazara Tech arm to acquire balance 86.49% stake of Freaks 4U for around Rs 271.48 crore via share swap
Posted by
Able
on
- Get link
- Other Apps