Tuesday, September 26, 2017

#NIFTY View on the 26th of September.

 Yesterday we saw that there was some buying seen and we expected the index to bottom out soon. Today we saw some selling early in the session. Soon buying interest dominated and we saw the index recover and close near the open. The index again closed above the previous support level of 9860. Technically today’s Bar is a successful test for supply. We need to see tomorrows move for confirmation of the “Successful Test”.  Anyway the market seems to have bottomed out. We could see some sideways move in the coming days before seeing any upside as the retracement of the overall up move from 9700 has been quite deep and more than 50%.  Some consolidation around these levels is only natural.



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