This indicates that selling pressure may emerge at resistance levels. The resistance levels to watch for are within the range of 22,276 - 22,325 and 22,475 - 22,525. In light of the bearish signals from technical indicators like the RSI and Moving Average Convergence Divergence (MACD), the recommended trading strategy would be to sell on rallies.
This approach aligns with the expectation of underperformance in the short term. On the downside, support levels are anticipated at 21,965, 21780, and 21,500. For swing traders and investors, these levels present opportunities to consider buying the index and its constituents.
Monitoring the index's behaviour around these support levels can provide strategic entry points for those looking to capitalise on potential rebounds. In summary, while the Nifty 50 Index maintains its bullish trend barring a breach of key support, caution is warranted due to the bearish signals from technical indicators.
This indicates that selling pressure may emerge at resistance levels. The resistance levels to watch for are within the range of 22,276 - 22,325 and 22,475 - 22,525. In light of the bearish signals from technical indicators like the RSI and Moving Average Convergence Divergence (MACD), the recommended trading strategy would be to sell on rallies.
This approach aligns with the expectation of underperformance in the short term. On the downside, support levels are anticipated at 21,965, 21780, and 21,500. For swing traders and investors, these levels present opportunities to consider buying the index and its constituents.
Monitoring the index's behaviour around these support levels can provide strategic entry points for those looking to capitalise on potential rebounds. In summary, while the Nifty 50 Index maintains its bullish trend barring a breach of key support, caution is warranted due to the bearish signals from technical indicators.