Nifty open higher but bulls didn’t survive into the market and traded range bound for entire session.
Nifty has formed Doji candle on a daily chart which indicates thug of war between buyers and sellers.
Double moving averages is giving cross down, we may see weakness into the market.
If the Nifty index is at a low point and if the market opens positively the next day and maintains stability at current levels, there's a chance that the downward trend could shift, and prices could start rising again.
Reason behind this is that when a Doji formation is happening at a Bottom level we may see trend reversal from there.
So, further levels for nifty will be 21667 will work as support level and 21906 will work as resistance level.
Today’s Advance Decline ratio of NIFTY50 Advance - 27 Decline - 23
FII Sell – 2599.19 crore DII Buy + 2667.52 crore.
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.