In a rangebound session on Tuesday, the domestic equity market continued to fall, as Nifty slipped below its short term 20-DMA to end with a marginal drop of 0.16 per cent on fag-end selling.
As we approach Wednesday’s trade, 11,550 will be important to track. This level is likely to lend a mild support, as the index may see a pullback from this zone.
However, the market is broadly expected to have a bearish undertone. In the same breadth, any slip below the 11,550 level will inflict more weakness in a technically weak market.
Wednesday’s session is likely to see 11,610 and 11,685 levels act as resistance points. The supports may come in at 11,550 and 11,440.
The Relative Strength Index (RSI) on the daily chart stood at 53.4036 and has marked a fresh 14-period low, which is bearish.
The daily MACD was bearish and traded below its signal line. Apart from a black body, no significant formations were observed on candles.
The pattern analysis of the daily charts showed that ..
For more information Top 10 Stock Advisory Company Indore
As we approach Wednesday’s trade, 11,550 will be important to track. This level is likely to lend a mild support, as the index may see a pullback from this zone.
However, the market is broadly expected to have a bearish undertone. In the same breadth, any slip below the 11,550 level will inflict more weakness in a technically weak market.
Wednesday’s session is likely to see 11,610 and 11,685 levels act as resistance points. The supports may come in at 11,550 and 11,440.
The Relative Strength Index (RSI) on the daily chart stood at 53.4036 and has marked a fresh 14-period low, which is bearish.
The daily MACD was bearish and traded below its signal line. Apart from a black body, no significant formations were observed on candles.
The pattern analysis of the daily charts showed that ..
For more information Top 10 Stock Advisory Company Indore
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