Nifty50 Update: Down trend intact

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10 APR 2018

Prices remain close to resistance around 10340/10360. Buyers are currently trying to force a move higher and thus to end the bearish phase all together, but conviction is still low. Nevertheless we have switched to a more neutral stance for the time being. “Too weak to buy and not weak enough to sell”.

Await further developments over the coming hours and days for new signals.

  • Primary trend: negative/neutral
  • Outlook: uncertain
  • Strategy: avoid
  • Support: 10060 / 9522 / 9274 / 8448
  • Resistance: 10360 / 10480 / 11130+
  • Outlook cancelled/neutralized: n/a

420-minute Intraday Chart 

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