NIFTY DAILY - 22/4/2024Second winning strike of bulls, Nifty opens gap up with almost 150 points.
Initially bears were trying to capture the market but didn’t sustain and made days low that is 221989 level.
Market was choppy throughout the trading session, into last trading hour nifty made high of 22375 with almost 220 points up which is around 1% and gave closing near today’s opening level which is 22336 level.
Index has formed Dragonfly Doji on daily chart which indicates indecisiveness among participants. Candle is taking support of 20 Days Exponential Moving Average Line.
Nifty is able to hold 22300 level and broke the resistance level which was 22276 so, further resistance will be 22556 level with support of 22242 level.
Today’s Advance Decline ratio of NIFTY50
Advance - 44
Decline - 5
Unchanged - 1
FII Sell - 2915.23 crores
DII Buy - 3542.93 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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