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breaking news Sensex and Nifty50 are likely to open higher today as Sgx Nifty Futures jumps

Trade Setup | Is Nifty50 bumpier?

Strong support continues to be at levels of 15,700-15,600, which coincides with the 89-day exponential moving average of the 50-script index on the weekly chart, said Sameet Chavan, Chief Technical Analyst and derivatives at Angel One, at “We’re not completely off the hook but at least well above the crucial support zone,” he said.

On the other hand, he sees a resistance cluster around the 16,400-16,500-16,600 band. Avoid being complacent unless these levels are breached, he says.

“We are clearly reflecting the sentiments of the US market and therefore if the market is to rise, global relief is key…Certainly be ready for some surprising moves on both sides.” (Read more)


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