PL Technical Research: TECHNICAL VIEW - NIFTY

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

PL Technical Research: NIFTY cmp:19240, the index is currently precariously placed with the overall bias maintained with a very cautious approach and as said earlier, the breach below 19500 zone was very crucial with the trend and sentiment turning negative and now with 19200 zone positioned as the important and crucial support zone, a decisive breach below shall trigger for further intensified selling pressure. Technically, the next major support zone lies near 18850 levels and 18600 zone of the significant 200 period MA where one can expect for some consolidation. So as of now, it’s a wait and watch scenario and for the overall bias to improve, would need a decisive move past the 19500 zone to establish some conviction and anticipate for further rise.