The Nifty 50 Index ended the week on a negative note. On Monday, it opened the session higher but traded on a tepid note to end the session flat. Next day, the index traded with volatility on back of Karnataka election results. It touched a high of 10,929 and slipped lower to end the session in the red. The bearish momentum continued for the rest of the week. Finally, the index ended the weekly session 1.73% down.
Last week, we saw the index closing above the gap area placed near 10,800 which was an immediate resistance level. Although the Karnataka election buzz pushed the index to 10,929, it did not sustain up for long. It immediately slipped back below the gap area which indicated weakness in the Indian indices.
Now the index is approaching the support zone of 10,400 - 10,500. The zone which acted as a resistance on the way up might now act as a support.
So it will be interesting to see if the index can find ground near 10,400 - 10,500 zone or will the bearish momentum lead to break the support zone.
To know more about what's happening in the global and Indian stock markets, you can read the detailed market update here...
Nifty 50 Index Witnesses Selling Pressure
|
|
|
We request your view! Post a comment on "Nifty Index Snaps Back Below 10,800 Level".
Thank you for posting your view! Comments are moderated and may not appear on this article until they have been reviewed and deemed appropriate for posting.
Click here!
|
Thank you for posting your view!
Comments are moderated and may not appear on this article until they have been reviewed and deemed appropriate for posting.
|
Post another comment
|
|
2 Responses to "Nifty Index Snaps Back Below 10,800 Level" | Zimpel
10 Aug, 2019 | I savor, result in I discovered just what I was having a look for.
You have ended my four day long hunt! God Bless you man. Have a nice day.
Bye maglia Marseille Poco Prezzo RosauraRo fodboldtrøjer
KarmaPenn | Like (5) |
|
| Govind Singh Rawat
31 May, 2019 | please contected with me share market live | Like (4) |
|
|
|
We request your view! Post a comment on "Nifty Index Snaps Back Below 10,800 Level".
Thank you for posting your view! Comments are moderated and may not appear on this article until they have been reviewed and deemed appropriate for posting.
Click here!
|
Thank you for posting your view!
Comments are moderated and may not appear on this article until they have been reviewed and deemed appropriate for posting.
|
Post another comment
|
|
|