NIFTY DAILY - 7/5/2024Third winning strike of Bear, again nifty opens gap up at 22489 level but didn’t sustain and bear drag nifty down to low of the day which is 22232 level.
Nifty was down by almost 200 points but given closing at around -140 points which is -0.62%. Nifty has formed a big red body candle with upper and lower shadow on daily chart.
Candle is trading below middle band of Bollinger Band.
Nearest support of nifty will be 22286 with resistance of 22389 level.
Bank Nifty levels
Support – 47876
Resistance – 48527
Today’s Advance Decline ratio of NIFTY50
Advance - 16
Decline - 34
FII Sell – 3668.84 crores
DII Buy + 2304.50 crores.
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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