The NIFTYIT has breached the double-top pattern target level of 29,600. During the last week, it traded within the range of 29,600–28,400 amid a falling rupee. The coming week will be crucial for the index's directional movement.
A breach of the 28,400 level could bring more pain to the index, with 27,800 acting as a support level and 26,200 as further support. On the upside, a breach of the 29,600 level will rally the index to 31,300.
A breach of the 28,400 level could bring more pain to the index, with 27,800 acting as a support level and 26,200 as further support. On the upside, a breach of the 29,600 level will rally the index to 31,300.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.