Pre-market action: Here's the trade setup for today's session
Giving his take on yesterday's action, Rupak De, Senior Technical Analyst at LKP Securities said that Nifty witnessed another day of volatility as the index failed to take a clear direction. «In the short term, Nifty might remain a 'sell on rise' as long as it stays below 23,150. Support is placed at 22,800, and a fall below this level might trigger further correction. Immediate resistance is placed at 23,000,» he said.
Here's breaking down of the pre-market actions:
STATE OF THE MARKETS
- Tech View: Notwithstanding a negative closing, Om Mehra, Technical Analyst at SAMCO Securities expects a potential trend reversal or at least an attempt to establish a stronger footing as is being suggested by a dragonfly doji pattern on the daily chart. The index has formed a base in the 22,800-22,900 zone, he said.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.36% to settle at 15.67 levels.
Stock Trading
Maximise Returns by Investing in the Right Companies
By — The Economic Times, Get Certified By India's Top Business News Brand
Stock Trading
Renko Chart Patterns Made Easy
By — Kaushik Akiwatkar, Derivative Trader and Investor
Stock Trading
Candlesticks Made Easy: Candlestick Pattern Course
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Dow Theory Made Easy
By — Vishal Mehta, Independent Systematic Trader
Stock Trading
Market 101: An Insight into Trendlines and Momentum
By — Rohit Srivastava, Founder- Indiacharts.com
Stock Trading
Markets 102: Mastering Sentiment Indicators for Swing
