Friday, July 11, 2025
spot_img

Nifty’s short-term trend remains negative

Date:

Share post:

spot_imgspot_img

Shillong, October 3: Nagaraj Shetti, Technical Research Analyst at HDFC Securities, has noted that the short-term trend of Nifty continues to be negative.

As per IANS, the market, after displaying a lack of strength during the recent upside bounce, is now positioned at the brink of a downside breakout below the 19,500 level.

On Tuesday, Nifty 50 concluded with a loss of 110 points, equivalent to 0.56%, settling at 19,528.75.

Shetti highlights that the next support levels to monitor are at 19,225 levels, while immediate resistance is situated at the 19,700 level.

Following a reasonably positive upside bounce on Friday, Nifty exhibited weakness within a range-bound movement on Tuesday, resulting in a 110-point decline. The market initially opened on a negative note and continued to weaken during the early part of the trading session. Subsequently, it adopted a narrow range pattern with a weak bias for the rest of the session.

Rupak De, Senior Technical Analyst at LKP Securities, observed that Nifty concluded the session under selling pressure after a day of volatile trading. The index found support at the ascending trendline on the daily chart, but the sentiment appears pessimistic for the short term.

Looking forward, the pivotal “make or break” point is expected to be at the 19,480 level. A decisive decline below this point could trigger substantial selling in the market. On the upside, the 19,600 level remains a significant resistance point to watch.

spot_imgspot_img

Related articles

Djokovic one step closer to title

London, July 10: Novak Djokovic’s search for his personal Holy Grail – a 25th Grand Slam title and...

After routing Real Madrid, PSG eye Chelsea and historic quadruple

East Rutherford, July 10: Wearing their blue, red and white jerseys, Paris Saint-Germain supporters were surrounded by white...

Belinda Bencic storms into semis

London, July 9: Returning to the circuit after the birth of her child, Belinda Bencic continued with her...

Asia Cup in doubt after India, Lanka refuse to attend ACC meeting

Mumbai, July 10: The Asia Cup cricket tournament plunged into further doubt and chaos after India and Sri...