Gift Nifty down 2 points; here's the trading setup for today's session
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Domestic markets rose modestly on Thursday as the US Federal Reserve left interest rates unchanged. From a technical standpoint, the index on a daily scale has formed a bullish candle but traded in a narrow range throughout the day. "On the higher side 22,780-22,800 will act as a strong hurdle for the index in the short term. As long as the index remains below 22,800, a short-term retracement towards 22,500-22,300 could be possible," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS Gift Nifty signals flat start Nifty futures on the Gift Nifty traded at 22,889, down 2 points or 0.01%, signalling a lacklustre start for Dalal Street. Tech View: The short-term trend of Nifty is choppy with range-bound action. Any upside from here could encounter strong resistance around 22800 levels. Immediate support is at 22550 levels and a slide below the support...