Tech View: Nifty ends below 20-DMA. Here’s how to trade on Tuesday

August 5, 2024

According to Nagaraj Shetti of HDFC Securities, the Nifty’s short-term trend is significantly bearish, with weakness evident across various timeframes. The key support level to watch for further downside is around 23,625, which aligns with the 38.2% Fibonacci retracement level. On the upside, immediate resistance is anticipated at 24,250.

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