A deep red candle in Nifty
In the recent market activity, Nifty has shown resilience by not closing below 19310 or above 19580. Despite opening with a gap up, there was significant selling pressure observed from the 19600 levels, leading to a close within the downward channel. The current state of the market can be described as indecisive, as there is a lack of clear direction or trend.
Based on the large selling in Nifty, it is anticipated that the market will open with a small gap down starting tomorrow. The ultimate direction of the market will be determined by whether it closes below the 19300 level. Currently, the market is in a consolidation zone, indicating a period of stability. However, the pending upside moment has come to completion as of today.
Based on the large selling in Nifty, it is anticipated that the market will open with a small gap down starting tomorrow. The ultimate direction of the market will be determined by whether it closes below the 19300 level. Currently, the market is in a consolidation zone, indicating a period of stability. However, the pending upside moment has come to completion as of today.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.