Technically, Nifty breached the vital sentimental support level of 6,130 and closed near the session's low. After a continuous overstretching in past sessions, on account of bulls run, our indices went for little cooling. After a ranged show till afternoon session, in late session, Indices witnessed huge volatility. For the day, Nifty has registered its PCR level at 0.83 against 0.97 as of previous trading session.
On the daily chart we are observing that the high of the shooting star 20,707 / 6,222 is acting as a strong resistance for the market. Since the intermediate daily trend is up there is a possibility that indices may find support at 20,290 - 20,189 / 6,094- 6,063 levels. Any move beyond the high of the shooting star, 20,707 / 6,222 level, would resume the up-trend.
On the daily chart we are observing that the high of the shooting star 20,707 / 6,222 is acting as a strong resistance for the market. Since the intermediate daily trend is up there is a possibility that indices may find support at 20,290 - 20,189 / 6,094- 6,063 levels. Any move beyond the high of the shooting star, 20,707 / 6,222 level, would resume the up-trend.
Ref: Nifty Daily Reports
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