Our Services Are

Yesterday, NIFTY opened on a positive note and moved above the 23,500 mark in early trade. After initial volatility, the index gained momentum in the afternoon session and started forming higher tops and higher bottoms on the intraday chart. NIFTY went on to make an intraday high of 23,777 before eventually closing just below 23,700.

NIFTY now faces strong resistance in the 23,800–23,900 zone, where both the 10-DEMA and 20-DEMA are positioned. Therefore, fresh long positions should be considered only on a decisive breakout above 23,900.

On the downside, the 23,250–23,150 range will act as an important support area. Long positions should be protected with a strict stop-loss below 23,150.