NIFTY 50 VIEW
Nifty 50 (10030)
▪Nifty has shed to new low this week on closing basis but above the weekly bounce back zone of 10020
▪It had breached the bounce back zone with a new low of 10004.
▪The trend is still indicating downtrend in charts but as the index is in oversold zone and shed around 16% from record highs soon reversal can take over.
▪All supports 9940-10020 can act as good reversal and the index can rise to 10290-10340
▪Break through 9940, can shed the index to 9840-9730.
Nifty 50 (10030)
▪Nifty has shed to new low this week on closing basis but above the weekly bounce back zone of 10020
▪It had breached the bounce back zone with a new low of 10004.
▪The trend is still indicating downtrend in charts but as the index is in oversold zone and shed around 16% from record highs soon reversal can take over.
▪All supports 9940-10020 can act as good reversal and the index can rise to 10290-10340
▪Break through 9940, can shed the index to 9840-9730.
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