Our Services Are

Yesterday, NIFTY opened on a negative note but found support near the 22,900 mark in early trade. Thereafter, the recovery resumed, and the index started forming higher tops and higher bottoms on the intraday charts. It breached the 23,000 mark and tested 23,100 before eventually closing just above 23,050.

NIFTY continues to form higher tops and higher bottoms on the intraday charts and is trading above both the 10-DEMA and 20-DEMA. Therefore, we maintain a bullish view on the index, with an immediate upside target of 23,150, where the 50-DEMA is positioned. If NIFTY sustains above 23,150, it could extend its rally towards the 100-DEMA, which is placed near 23,500.

On the downside, the 22,900–22,800 zone will act as an important support area. Long positions should be maintained with a protective stop-loss below 22,800.