NIFTY WEEKLY ANALYSIS (23/7/21)
Key takeaways:
Nifty opened this week with weak global cues relating to covid and fell first two days, then there was global recovery, so our markets recovered as well (Range- 15600-15950)
Nifty took support from the long term lower trendline
Still Nifty is in the trading range of 15600-15900, below with 15300 is very strong support
Resistance and lower trendline has almost converged, can break either side, (good / bad quarterly results will help decide direction
Broder market action was observed within the week.
Nifty opened this week with weak global cues relating to covid and fell first two days, then there was global recovery, so our markets recovered as well (Range- 15600-15950)
Nifty took support from the long term lower trendline
Still Nifty is in the trading range of 15600-15900, below with 15300 is very strong support
Resistance and lower trendline has almost converged, can break either side, (good / bad quarterly results will help decide direction
Broder market action was observed within the week.
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