Global markets are currently stable with no signs of panic or profit booking.
Indian market is receiving constant flow of new money which is pushing it to fresh all time highs.
In this background, there comes a news that impact of COVID-19 on Indian Economy is not as bad as it was thought earlier.
Therefore, there is no resistance as of now to stop Nifty from scaling fresh all time high. The current resistance level of 17132 (Futures chart), if surpassed, will force more Short Sellers to
cover their positions and give further upwards push to Nifty and if downward move starts, Support is pegged at 16705 only which indicates downwards move will be brutal for the PUT Sellers.
In comparison, Bank Nifty Futures chart is showing resistance at 36650 (see image below):
If this level is surpassed, there will be fresh upwards push for Bank Nifty while immediate downwards Support is pegged at 36364.
Indian market is receiving constant flow of new money which is pushing it to fresh all time highs.
In this background, there comes a news that impact of COVID-19 on Indian Economy is not as bad as it was thought earlier.
Therefore, there is no resistance as of now to stop Nifty from scaling fresh all time high. The current resistance level of 17132 (Futures chart), if surpassed, will force more Short Sellers to
cover their positions and give further upwards push to Nifty and if downward move starts, Support is pegged at 16705 only which indicates downwards move will be brutal for the PUT Sellers.
In comparison, Bank Nifty Futures chart is showing resistance at 36650 (see image below):
If this level is surpassed, there will be fresh upwards push for Bank Nifty while immediate downwards Support is pegged at 36364.
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Telegram: @jellygill
Our Telegram Channel: @CheetaTrader
join to complete FREE TRAINING on how to use the indicators effectively and then request @jellygill for FREE TRIAL
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Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
To avail FREE TRIAL for all our invite-only indicators, please contact us:
Telegram: @jellygill
Our Telegram Channel: @CheetaTrader
join to complete FREE TRAINING on how to use the indicators effectively and then request @jellygill for FREE TRIAL
Telegram: @jellygill
Our Telegram Channel: @CheetaTrader
join to complete FREE TRAINING on how to use the indicators effectively and then request @jellygill for FREE TRIAL
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.