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Today's market report
Nifty on the daily chart ended up for third consecutive session while pressure at higher levels can be seen with higher supply above 8120. Nifty on daily chart made Bearish Advance Block formation which is a combination of 3 white
Nifty on the daily chart ended up for third consecutive session while pressure at higher levels can be seen with higher supply above 8120. Nifty on daily chart made Bearish Advance Block formation which is a combination of 3 white candlesticks with price inching towards previous day high and closing is higher than previous one.
It is generally formed in an intermediate downward move where mode of market is bearish in a primary uptrend. If there is a weakness ion next session in first few hours than a downward move can be seen.
Short term support for Index comes at 8090 and 8040 with gain support which if breaches can drag Nifty to 7940. on higher side we have critical resistance at 8190 and 8225.
By Mr Mustafa Nadeem, CEO, Epic Research Pvt. Ltd.
