Nifty InstaView 09 Apr’21: Slides back to supports

9 apr 2021


Nifty View: Benchmark Nifty index slips 30 points in the last session of the week to post a close at 14,890. The index is now dealing with a strong zone of supports within (14,800-14,900). The nascent short term up trend is trying its best to hold on and not slip back to a reversal, again. And for this the index needs to sustain above 14,800, or else we will be heading for another down swing. On the upside, immediate and obvious resistance lies at the psychological 15K mark. Strategically it makes sense to stay cautiously bullish and expect the index to pick up some momentum in the first half of next week’s trade.

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