SGX Nifty was trading in the negative territory, down 40 points before the opening bell, indicating a gap-down start for BSE Sensex and Nifty 50.
On the technical charts, the short-term trend of NSE's Nifty seems to be positive. Image: Reuters
SGX Nifty was trading in the negative territory, down 40 points before the opening bell, indicating a gap-down start for BSE Sensex and Nifty 50. On the technical charts, the short-term trend of NSE’s Nifty seems to be positive. “This pattern opens another round of downward correction from here. However, a decisive move below the immediate support of 14400 is likely to open the door for the next lower support of 14200-14150 levels in the short term. The sustainable up move could only resume above 14550 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
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