Ahead of Market: 12 things that will decide stock action on Monday

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MUMBAI: Nifty50 on Friday an indecisive candle on the daily chart suggesting that the index could be in for some consolidation in the coming session even as there is consensus among analysts that the overall bullish momentum will sustain. Here's how analysts read the market pulse:- Kotak Securities’ Shrikant Chouhan said that the index has been making higher high-low formation on the daily chart, which is seen as broadly positive. "The 17,775-17,700 range could offer immediate support. On the flip side, 18,000 and 18,200 levels could act as a major resistance level. A partial profit booking is advisable at 18,100-18,200 level," Chouhan said. Mazhar Mohammad of Chartviewindia.in suggested that the index could see a pause after strong up move recently. “A dip into the 17,750-700 can be a comfortable buying opportunity. If Nifty50 clears 17,950 level, a higher target towards 18,300 can be expected," Mohammad said. That said, here’s a look at what some of the key indicators
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