Technical Analysis:
Fundamental Analysis:
- Current Trend: NIFTY is experiencing a sharp pullback after a breakdown from its recent falling wedge pattern.
- Support Levels: The index is approaching 22,500-22,400, a crucial demand zone where it may attempt a bounce.
- Resistance Levels: Any recovery will face resistance around 23,000-23,200, followed by a major resistance at 23,500.
- Pattern Analysis: A double-bottom formation is visible around the recent lows, which could indicate potential recovery in the coming sessions.
- Volume Analysis: Selling pressure is moderate, suggesting market participants are cautious rather than panic selling.
Fundamental Analysis:
- Macroeconomic Outlook: Global uncertainties and inflation concerns continue to impact sentiment.
- FII & DII Activity: Foreign Institutional Investors (FIIs) have been net sellers, while Domestic Institutional Investors (DIIs) are accumulating selectively.
- Sector Strength: Defensive sectors like FMCG & IT are showing resilience, while banking & auto stocks face some pressure.
- Earnings Season Impact: Many large-cap companies are still to report results, which may trigger short-term volatility.
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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.
DSAB Finserve
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.