Today markets opened lower and selling intensified as the day progressed which led the indices to close in red. In coming trading session if indices trade below 19,223 / 5,987 levels then they are likely to test crucial support level of 19,822- 19,772 / 5,966-5,932, and any close below 19,822 / 5,966 level would confirm a lower top lower bottom formation on the daily chart. However, a bounce from current levels up to 20,070- 20,165 / 6,040- 6,072 levels cannot be ruled out as the hourly charts are in overbought zone.
Ref : Nifty Technical Views
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