NIFTY DAILY - 16/5/2024

5월 16일

Nifty opens with positive note but bears took the market to low of the day which is 22054 with almost -160 points, into last one hour’s bulls were trying to stretch their arms and took nifty to high of the day which is 22432 level with almost up by 203 points (+0.92%).

Nifty has formed bullish candle with long lower shadow which indicates participants were buying from day lower level.

Currently RSI is around 53.

Nifty has broken the resistance of 22273 and able to hold above 22400 so next resistance can be 22556 level with support of 22286 level.

Bank Nifty levels
Support – 47305 Resistance – 48110

Today’s Advance Decline ratio of NIFTY50
Advance - 38
Decline - 12

FII Sell – 776.49 crores
DII Buy + 2127.81 crores.

⚠️ Important: Always maintain your Risk & Reward Ratio.

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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.

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