NIFTY Daily Chart Technical Analysis
The excitement over poll results is diminishing as market is returning to basics. NIFTY has formed a double top near 7968. The candlesticks have shrunk in size. Market has remained at same level since almost 2 trading weeks. Volume has shrunk. Short positions can be taken when market falls from resistance levels.
Yet, there is a bullish price channel in which the index is traveling and this needs to be watched keenly for breakouts.
This market is currently in a wait-n-watch zone and supports short-term positions, with larger positions to be taken when resistance or support breaks.
NIFTY Daily Chart Technical Analysis
