NIFTY DAILY CHART ANALYSIS

The Nifty 50 index closed at 24,056.00 today, reflecting a mild gain of +0.14% (+34.35 points) after giving up a major portion of its intraday gains. Structurally, the daily chart reveals a tightly compressed range-bound market regime defined by aggressive selling near 24,200–24,250 and robust dip-buying around the 23,800 mark. There was a trendline break out and a retest. during the retest it made a low of 23,784. Thus 23,750 to 23,800 will act as key support and we are seeing sharp decline in Nifty from 24500 to 23,600 levels and this will act as a key resistance. We will see a trending market if Nifty moves and closes below the support or above the resistance levels on Daily Charts. Top Gainers : $INDIGO $M&M $MARUTI Top Losers : $ONGC $HINDALCO $POWERGRID