Market Analysis for Nifty 50 for Tomorrow, September 22, 2023
Market Outlook
Nifty 50 has fallen less than Bank Nifty over the past few days, and is likely to be less bearish tomorrow. However, the market is still in a downtrend, and traders should be cautious.
Key Support and Resistance Levels
Support: 19700, 19638, 19600
Resistance: 19750, 19800
OI Data
The OI data for the market shows support at 19700 and resistance at 19750 and 19800.
Trading Strategy
Watch the price action tomorrow to see if Nifty 50 can trade above 19750. If it can, then a bullish move to 19800 is possible. However, if Nifty 50 breaks 19700, then traders should expect further downside movement to 19638 and below.
Disclaimer
This is just a professional stock market analysis for Nifty 50 for tomorrow, September 22, 2023. It is not financial advice, and traders should always do their own research before making any investment decisions.
Additional Notes
Nifty 50 has been facing rejection at the 19750 level for the past few days.
If Nifty 50 can break above 19750 tomorrow, it will be a bullish signal.
However, if Nifty 50 breaks below 19700 tomorrow, it will be a bearish signal.
Traders should be cautious and use proper risk management techniques while trading Nifty 50 tomorrow.
Market Outlook
Nifty 50 has fallen less than Bank Nifty over the past few days, and is likely to be less bearish tomorrow. However, the market is still in a downtrend, and traders should be cautious.
Key Support and Resistance Levels
Support: 19700, 19638, 19600
Resistance: 19750, 19800
OI Data
The OI data for the market shows support at 19700 and resistance at 19750 and 19800.
Trading Strategy
Watch the price action tomorrow to see if Nifty 50 can trade above 19750. If it can, then a bullish move to 19800 is possible. However, if Nifty 50 breaks 19700, then traders should expect further downside movement to 19638 and below.
Disclaimer
This is just a professional stock market analysis for Nifty 50 for tomorrow, September 22, 2023. It is not financial advice, and traders should always do their own research before making any investment decisions.
Additional Notes
Nifty 50 has been facing rejection at the 19750 level for the past few days.
If Nifty 50 can break above 19750 tomorrow, it will be a bullish signal.
However, if Nifty 50 breaks below 19700 tomorrow, it will be a bearish signal.
Traders should be cautious and use proper risk management techniques while trading Nifty 50 tomorrow.