The index opened higher at 23,454.05, scaled an intraday high of 23,489.00, but intense second-half selling pressure, especially in heavyweights like the IT sector, dragged the Nifty down to close 0.36% lower at 23,329.00. The Hourly MACD and Daily MACD below zero indicates a bearish trend. Hourly RSI 14 below midline 50 indicates bearish trend. Thus, The overall trend of Nifty looks bearish, and the sellers are in control over the markets. Sell on rise would be the best strategy to deploy for today’s market considering the overall trend of Nifty. We may expect a change in trend only if the price sustains above the resistance level. Can Initiate buying only if prices continue to sustain above the resistance level. I have provided Nifty Spot resistance and support levels which would help you learn in taking informed trading decisions using these levels and understand how support and resistance levels work in financial markets. Nifty Spot Resistance 1 - 23415 Resistance 2 - 23465 Support 1 - 23280 Support 2 - 23255 Happy Learning, Happy Trading and have a wonderful day. Top Gainers : COALINDIA, ETERNAL, INDIGO.

COALINDIA

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