Wednesday turned out to be a disastrous day of trade for Indian equity markets and continued its southward journey for third consecutive day. The equity benchmarks made a gap-down start in early deals due to global weakness.
Technically the index has reached near important support of 20800-20500 range and is likely to witness good buying support. The 21300 CE has the highest OI indicating that the index is now likely to move towards 21300-21500 levels in near term.
Today’s smart comeback of bulls from near important cluster supports is raising hopes for the continuation of uptrend in Nifty for near term. The significance of support around 9000-8980 levels could possibly lead to a buy on dips opportunity for Nif...
Technically the index has reached near important resistance of 21200-21500 range and is likely to witness strong supply pressure. The 20500 PE has the highest OI indicating that the index is now likely to move towards 20800-20500 levels in near term.