
Pre-market action: Here's the trade setup for today's session
«Nifty has now edged closer to its previous swing low i.e. around 23800, with banking heavyweights leading the decline and dampening hopes of a recovery once again. Current signals suggest a potential test of the long-term moving average at the 200 DEMA level, around 23,540. Participants should adjust their positions accordingly and prioritize selective stock picking,» said Ajit Mishra – SVP, Research, Religare Broking.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: The short-term trend of the Nifty continues to be weak. A slide below 23800 levels could open the next downside target of around 23,500 levels (200-day EMA) in the near term. Immediate resistance is at 24050 levels, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, rose just over 2% to settle at 14.59 levels.
Stock Trading
Stock Investing Made Easy: Beginner's Stock Market Investment Course
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Technical Analysis for Everyone — Technical Analysis Course
By — Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities
Stock Trading
RSI Made Easy: RSI Trading Course
By — Souradeep Dey, Equity and Commodity Trader, Trainer
Stock Trading
Cryptocurrency Made Easy: Cryptocurrency Course
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Point & Figure Chart Mastery: A Comprehensive Trading Guide
By — Mukta Dhamankar, Full Time Trader, 15 Years Experience, Instructor
Stock Trading
Market