Nifty witnessed the worst fall in past 2 months, thanks to the IT and AUTO sector. There were major reasons fundamentally like rupee falling , Tariffs on canada, weak start to earnings month and FII's selling .
However technically nifty gave a breakout on 25 june from the 25199 level and post 3 weeks it could not sustain that level due to prolonged selling and global uncertainties. Nifty is basically retesting the breakout and i feel it would consolidate here for a while and then take further leap on the upside and making all time high
I feel nifty can still rally 13% if it sustains this 25189 - 25149 levels
However technically nifty gave a breakout on 25 june from the 25199 level and post 3 weeks it could not sustain that level due to prolonged selling and global uncertainties. Nifty is basically retesting the breakout and i feel it would consolidate here for a while and then take further leap on the upside and making all time high
I feel nifty can still rally 13% if it sustains this 25189 - 25149 levels
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.