As per our algo signal, trend of nifty is strongly bullish and sentiment is positive too. However, we need to be little cautious as nifty 50 is at overbought zone. if the nifty fall below 16483, then there is a possibility of correction due to fed event. Given below is the nifty level including support and resistance and also demand and supply.
NIFTY 50 Outlook for Monday 25-July-2022
NIFTY 50
is strongly bullishNIFTY 50
sentiment positive and trending. Overall direction upside- if
NIFTY 50
breaks above the supply zone (Supply Zone:16626.95 - 16748.20
), Rally starts. Target16781.55
and16835.55
IfNIFTY 50
crossed above16797.19
, then it may touch16861.72
- Closing Price:
16719.45 (114.20)
- Supply Zone:
16626.95 - 16748.20
- Demand Zone:
16483.90 - 16640.20
- Resistances:
16748.20
,16781.55
,16835.55
Supports:16640.20
,16606.85
,16552.85
Disclaimer: These are only suggestive technical rules that have been found to work well over time in the market. These are not any trading or investing recommendations. We suggest you to take advice from certified experts for trading and investing. Neither PickMyStox nor any of its associates are responsible for any trading or investing loss.
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