Nifty 50 Daily Analysis - Day time frame

Sep 7, 2023

The Nifty index has found support at the 19500 level and is currently displaying a bullish trend. Based on historical price patterns, resistance levels are observed at 18850 and 20000. The recent combination of trading volume and price movement over the past three sessions suggests the possibility of the Nifty reaching its all-time highs in the next 3-4 trading sessions. However, given the current weakness in the banking sector, there may be some testing of the 20000 level, and the potential for reaching new highs by the beginning of October also depends on favorable global market conditions.