Nifty InstaView 23 Feb’21: Fasten your Seat Belts

Nifty View: Volatility makes a come back as the benchmark Nifty oscillates sharp within today’s session. No doubt that the underlying trend of the index is now DOWN and as long as the psychological level of 15K is not taken out, sentiment is likely to stay muted. As suggested before, it’s time to be a little cautious and not chase or trade aggressively. A break below 14,650 will infuse fresh selling pressure which will be relatively easier for the index at the current juncture. On the downside, keep a close watch at (14,400-14,470) range with the immediate short term resistance at (14,850-14,900).

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