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Saturday, January 6, 2024

Update on $NSE:NIFTY

Update on $NSE:NIFTY


Dear Followers,

I hope this message finds you well. I wanted to provide you with a brief update on the NIFTY I have been monitoring.

It appears that the stock is approaching a potential resistance level Near 21820-21840 This is an important technical point where the price has historically had difficulty breaking through. It suggests that we may see a temporary halt in the current upward momentum and Possibly it will test 20990 In Downmove.

Resistance Levels to Watch out.

Resistance levels are the opposite, representing prices at which a stock has historically struggled to move above. These levels can signal a selling interest. Understanding resistance points is crucial for anticipating potential obstacles in the upward movement of a stock.

R1= 21830
R2= 22030
R3= 22160

Support Levels To Watchout.

Support levels represent prices at which a stock has historically had difficulty falling below. These levels often indicate a strong buying interest. It's important to monitor these levels, as a breach might suggest a potential downward trend.

S1= 21480
S2= 21220
S3= 20990

As always, please remember that investing involves risks, and it's important to carefully consider your options. If you have any questions or would like to discuss this further, please don't hesitate to reach out.

Best regards,


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