Nifty 50 IndexUpdated Nifty Outlook 21st Sep 2023
Close likely to be in -
Range - 19785/20016
Extended Range - 19594/20207
Nifty has some support at middle of the channel & once that is broken, we can even see 19715 in next 1-2 sessions. 10 DMA is at 19950 and a strong resistance on the upside. Options data suggest upside has another strong resistance at 20050.
P.S. - Had mentioned on 13th Sep analysis that pressure on Nifty may continue and have been mentioning caution on up trending days as well since then.
Range - 19785/20016
Extended Range - 19594/20207
Nifty has some support at middle of the channel & once that is broken, we can even see 19715 in next 1-2 sessions. 10 DMA is at 19950 and a strong resistance on the upside. Options data suggest upside has another strong resistance at 20050.
P.S. - Had mentioned on 13th Sep analysis that pressure on Nifty may continue and have been mentioning caution on up trending days as well since then.
Note
Didn't expect to see 19717 today only.Trade closed manually
Nifty closed between low of day range 1 & 2.
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