Nifty is likely to retest support of 10,750; Buy Tech Mahindra for the short-term
The Nifty ended Tuesday 0.04% lower at 10,801.85. It remained extremely volatile throughout the session before ending with a bearish Shooting Star candle. Erasing of early gains implies that traders and investors have turned extremely cautious after the absence of a clear majority in the Karnataka assembly elections.
The index reacted down from the day’s high of 10,929 before finishing off nearer to its critical support around 10,780 levels. As the broader pattern suggests, the uptrend is well intact as long as it trades above 10,750 levels. Below 10,750, its next support is placed around 10,700 levels.
No comments