Nifty opened higher but closed lower, forming a bearish belt hold pattern. The 21-day DEMA at 24,070 is immediate support, while 24,350 is resistance. The short-term trend is up, but a breakout above 24,350 is needed for further upside. Highest OI on the call side is at 24,200 and 24,250, and on the put side, it’s at 22,200 and 24,150.
Tech View: Nifty breaches 200 DEMA, signalling bearish sentiment. How to trade on Tuesday
The Nifty faced selling pressure, closing below 23,700 and breaching the 200-day EMA, signalling a bearish trend. Failure to hold current levels could see support