“Today’s price behaviour is looking like one akin to the resumption of a downtrend from the intraday highs of 17,726 level. Hence, in the next trading session, if the Nifty50 slips below 17,499, weakness may extend towards 17,345 that would also result in the breach of the 20-day SMA (around 17,480),” said Mazhar Mohammad of Chartviewindia.in
Tech View: Nifty charts throw up dark clouds. What traders should do next week
Nifty’s short-term trend seems to have reversed down after a reasonable rise from the lows. Immediate support is placed at 22,300 and the weakness below
April 26, 2024