Nifty Faces Strong Resistance at 19850, Potential Breakout or Breakdown Imminent; Banknifty Seeks Recovery After RBI Risk Norm Change by Sheersham Gupta, Director and Senior Technical Analyst at Rupeezy Nifty is facing huge resistance at 19850 and again saw selling today after crossing 19850. While Nifty has been consolidating in a short range of 19650-19850 for the past 7 trading sessions, we may soon see…
Post Market commentary -Sheersham Gupta, Director and Senior Technical Analyst at Rupeezy
It was a volatile day for the market today, and Nifty again saw sharp selling from the resistance level of 19825. The market recovered after regaining all the losses aided by the IT and auto sectors rally. The European markets opened higher, indicating that it digested yesterday’s Fed Minutes of “Wait and Watch Policy” for further rate hikes, and the Indian markets followed suit. India…