Nifty ready for price correction? support at 22900 or more fall?
Nifty and BN Analysis -
BN has not moved up compared to Nifty up move, reason is Nifty got some boost from IT stocks.
on 10th June or few days next week one correction seems to be coming in both N & BN
In Nifty once price move below 23200 in spot it could see 22900
I think support might come here between 22900 to 22800 in spot
If not Nifty will fall to 22500 to 22400 in spot.
In my previous charts showed Infy and TCS taking support and accumulation is visible.
It took long time for IT shares to spike up.
Big boys who pushed IT shares up were knowing US NFP data ig going to hot and Dollar index will spike and usdinr was higher with RBI support
RBI too predicted dollar index spike and its bullish already,
But IT stocks move up can not be relied or we can see easy correction before another up move.
And in this scenario when dollar index and usdinr moving up BN is very easy to fall or see a healthy correction
In this fall Nifty too will see some correction easily.
BN has not moved up compared to Nifty up move, reason is Nifty got some boost from IT stocks.
on 10th June or few days next week one correction seems to be coming in both N & BN
In Nifty once price move below 23200 in spot it could see 22900
I think support might come here between 22900 to 22800 in spot
If not Nifty will fall to 22500 to 22400 in spot.
In my previous charts showed Infy and TCS taking support and accumulation is visible.
It took long time for IT shares to spike up.
Big boys who pushed IT shares up were knowing US NFP data ig going to hot and Dollar index will spike and usdinr was higher with RBI support
RBI too predicted dollar index spike and its bullish already,
But IT stocks move up can not be relied or we can see easy correction before another up move.
And in this scenario when dollar index and usdinr moving up BN is very easy to fall or see a healthy correction
In this fall Nifty too will see some correction easily.