Market commentary for August 24, 2023, and the projected levels for August 25, 2023. Here's a breakdown of the information:
August 24, 2023:
NIFTY closed at 19386.70.
NIFTY's highest point during the day was 19584.
NIFTY's lowest point during the day was 19369.
The commentary notes that NIFTY was unable to cross the bullish confirmation level of 19623. This suggests that the index didn't manage to surpass that key level which is seen as significant for confirming a bullish trend. Additionally, the NIFTY data bias remains negative, consistent with the sentiment mentioned in previous commentaries.
Projected NIFTY Levels for August 25, 2023:
First support: 19250.
Second support: 19025.
First resistance: 19419.
Second resistance: 19529.
Bullish confirmation: NIFTY needs to close above 19623 on a daily basis to confirm a bullish trend.
The projected levels for the next day continue to provide potential support and resistance levels, as well as the crucial level for confirming a bullish trend.
Remember that market conditions can be influenced by various factors, and prices can be quite volatile. While technical analysis can be a useful tool for understanding potential price movements, it's important to stay informed about current events, economic data, and other factors that might impact the market. Always consider a diverse range of information when making investment decisions.
August 24, 2023:
NIFTY closed at 19386.70.
NIFTY's highest point during the day was 19584.
NIFTY's lowest point during the day was 19369.
The commentary notes that NIFTY was unable to cross the bullish confirmation level of 19623. This suggests that the index didn't manage to surpass that key level which is seen as significant for confirming a bullish trend. Additionally, the NIFTY data bias remains negative, consistent with the sentiment mentioned in previous commentaries.
Projected NIFTY Levels for August 25, 2023:
First support: 19250.
Second support: 19025.
First resistance: 19419.
Second resistance: 19529.
Bullish confirmation: NIFTY needs to close above 19623 on a daily basis to confirm a bullish trend.
The projected levels for the next day continue to provide potential support and resistance levels, as well as the crucial level for confirming a bullish trend.
Remember that market conditions can be influenced by various factors, and prices can be quite volatile. While technical analysis can be a useful tool for understanding potential price movements, it's important to stay informed about current events, economic data, and other factors that might impact the market. Always consider a diverse range of information when making investment decisions.