Nifty InstaView 23 Apr’21: Volatile


Nifty View: A fairly volatile session for benchmark Nifty as the index slips 65 points in today’s trading session. Intra day volatility was on the higher side as the index failed to hold on to either to the day’s low of high. Under the Japanese Candlestick parlance, we have a “Doji” which clearly reflects the degree of uncertainty in terms of the immediate trend of the index. On the upside, the index needs to deal with 14,500 and then 14,700 for an intermediate trend reversal and follow up rally. And on the flip side, a close below 14,200 will definitely set in fresh bearish sentiments. Strategically one should continue to trade cautiously and focus more on capital preservation rather than chasing profits.

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