We feel the overall tone would remain bearish until the Nifty reclaims 17,200. On the downside, a decisive break of 16,800 could further fuel the decline. Participants should align their positions accordingly and maintain positions on both sides.
Tech View: Nifty forms bullish reversal pattern. What traders should do next week
The psychological mark of 22,000 holds intermediate support, followed by strong support of the 21,800-21,700 subzone. On the higher end, the 20-DEMA placed at 22,300,
April 19, 2024