Nifty trend analysis for 3rd April, 24

Apr 3

Hello there👋

As said nifty again resist 22500 & down.. Still 22370 support intact as strong demand zone..

Have marked levels on chart.

In 15 min chart it's bull flag formed & upside break

Resistance - 22480 : 22501 : 22514 : 22539 : 22560 : 22578 ( pivots)
Support - 22435 : 22409 : 22373 : 22341 : 22312 : 22270 : 22215.

Rsi in bullish teritory.. Momentum upward, volume good..

The weak factor is IV.. It comes down & volatility also down, hence yesterday there was no much premium hikes..

Fii still buying index options & sell in cash.. Opposite dii are cash buyers . .

Nifty mid cap index again gained momentum.. Besides not much movement in other indices.. Gold again up.. Dollar index flat.. Mixed cues..

All the levels and information provided is strictly for educational purposes. No buy/sell recommendations. 🙏 DYOA & make decisions.

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