Tech View: Nifty likely to trade in a range
[hfe_template id='11223']
[ad_1]
Technical charts suggest the short-term trend of Nifty is likely to be range-bound with a weak bias. A move below the immediate support of 23,250 could indicate the beginning of a shortterm downward correction, according to technical analysts. For short-term trading, analysts recommend stocks such as SBI, IDFC First Bank, Granules, Infosys, HCL Tech, M&M Financial, PVR Inox, Max Financial, Tata Steel, and SAIL. SAMEET CHAVAN, HEAD RESEARCH TECHNICAL & DERIVATIVES, ANGEL ONE Where is Nifty headed this week? The small-bodied candle formations suggest that the bulls may be reaching their limit and could be waiting for an external trigger to continue their momentum. As the Nifty ventures into uncharted territory, it becomes challenging to identify the intermediate resistance. However, with the recent developments, 23,650-23,700 seem to pose a significant challenge, and a decisive closure could potentially trigger the next leg of the i...