Nifty 50 IndexShort
Projected NIFTY Levels for August 30, 2023:
The Market Commentary for August 29, 2023, and The Projected levels for August 30, 2023. Here's a breakdown of the information:
August 29, 2023:
NIFTY closed at 19342.65.
NIFTY's highest point during the day was 19378.
NIFTY's lowest point during the day was 19309.
The commentary mentions that NIFTY once again tried but was unable to cross the 19407 level, indicating potential weakness in market sentiment or ongoing profit booking. Additionally, it's noted that NIFTY remained within a narrow range throughout the day. A narrow range typically suggests limited price volatility and uncertainty.
The commentary also suggests that a pullback in NIFTY might provide an opportunity for investors to sell at higher levels, implying a bearish sentiment.
Projected NIFTY Levels for August 30, 2023:
Psychological support: 19300.
Strong support: 19025.
Resistance levels: 19407, 19473, 19500.
Bullish confirmation: NIFTY closing above 19600.
The commentary provides projected support and resistance levels for the upcoming day, along with a key level for bullish confirmation. These levels are based on technical analysis and historical price patterns.
Market conditions can change quickly based on various factors, so it's important to stay informed and consider both technical and fundamental aspects when making investment decisions.
August 29, 2023:
NIFTY closed at 19342.65.
NIFTY's highest point during the day was 19378.
NIFTY's lowest point during the day was 19309.
The commentary mentions that NIFTY once again tried but was unable to cross the 19407 level, indicating potential weakness in market sentiment or ongoing profit booking. Additionally, it's noted that NIFTY remained within a narrow range throughout the day. A narrow range typically suggests limited price volatility and uncertainty.
The commentary also suggests that a pullback in NIFTY might provide an opportunity for investors to sell at higher levels, implying a bearish sentiment.
Projected NIFTY Levels for August 30, 2023:
Psychological support: 19300.
Strong support: 19025.
Resistance levels: 19407, 19473, 19500.
Bullish confirmation: NIFTY closing above 19600.
The commentary provides projected support and resistance levels for the upcoming day, along with a key level for bullish confirmation. These levels are based on technical analysis and historical price patterns.
Market conditions can change quickly based on various factors, so it's important to stay informed and consider both technical and fundamental aspects when making investment decisions.
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