Nifty Spot
There was a Hammer (bullish pattern) in the 15m chart on 26/02/21 at 15:15 hrs.
14635 levels were from where Nifty had to bounce back but it slipped below it and closed at 14529. Nifty had made a high of 14498 on 11/01/21 which can be considered as a strong support now.
RSI has slipped well below 50.
It also shows a bounceback from the trendline levels which gives us a little confidence that the trend has not changed and is still an uptrend.
15000 levels are a very strong resistance so can buy with Stop Loss below 14498 for targets of 15000.
So, expect the global markets, Nifty doesn't show a lot of strength of it's own today but isn't bearish either.
There was a Hammer (bullish pattern) in the 15m chart on 26/02/21 at 15:15 hrs.
14635 levels were from where Nifty had to bounce back but it slipped below it and closed at 14529. Nifty had made a high of 14498 on 11/01/21 which can be considered as a strong support now.
RSI has slipped well below 50.
It also shows a bounceback from the trendline levels which gives us a little confidence that the trend has not changed and is still an uptrend.
15000 levels are a very strong resistance so can buy with Stop Loss below 14498 for targets of 15000.
So, expect the global markets, Nifty doesn't show a lot of strength of it's own today but isn't bearish either.