Nifty InstaView 22 Feb’21: Hot Knife through Butter

Nifty View: Benchmark Nifty sells off one way without any sign of intra-day bounce back in today’s session. At a close of 14,640 it was a weak end to the index at the lowest point of the day’s trade. This reverses the short-term trend down and that too with high momentum and across-the-board selling. Break below the psychological level of 15,000 induces fresh weakness which now going forward will act as a resistance. Further down, we should keep an eye on (14,400-14,500) zone wherein there lies an erstwhile rising gap. Short term trading going ahead can become a little more difficult as soon we will start to face heightened intra-day volatility.

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