Nifty Today: “It’s not going to be easy” - 02 Mar’22

 Nifty View: Nifty loses 180 points in today's session to post a close at 16,613. We did notice some bounce back in the final hour of the day's trade which led to a "Spinning Top" candlestick pattern on the daily chart. There is no structural change to the overall market, which is still in a downtrend trend with momentum support. An extension of today's last hour buying can see an extension towards a retest of the immediate resistances of (16,800-17,000). As long as this 200 point zone is not taken out on the upside, expect selling pressure to persist.

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