Good Morning!
Finally, yesterday Nifty decided to take a breakdown through the support level of 16400 on a closing basis. Well, that too it was in the last 2 hours of the yesterday’s trading session that the index chose to do so.
This could perhaps be the outcome of the announcement made by the RBI in regards to the hike in the Repo Rate, yesterday. Otherwise, we are still hopeful for the positive side in the index. Since, this breakdown was not much supported by the supply pressure yesterday, as it could have been if the case was otherwise. Which again, somehow shows the strength in the Market, as of now.
However, today will be a very crucial day.
So, stay cautious and wait for today’s closing.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 08.06.22 - 16356.25
Regards,
Alok Daiya
Finally, yesterday Nifty decided to take a breakdown through the support level of 16400 on a closing basis. Well, that too it was in the last 2 hours of the yesterday’s trading session that the index chose to do so.
This could perhaps be the outcome of the announcement made by the RBI in regards to the hike in the Repo Rate, yesterday. Otherwise, we are still hopeful for the positive side in the index. Since, this breakdown was not much supported by the supply pressure yesterday, as it could have been if the case was otherwise. Which again, somehow shows the strength in the Market, as of now.
However, today will be a very crucial day.
So, stay cautious and wait for today’s closing.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 08.06.22 - 16356.25
Regards,
Alok Daiya
Disclaimer: alokdaiya.in/disclaimer/
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya