Dalal Street Week Ahead: Weak technical setup to keep bulls under pressure
The technical structure has deteriorated following the violation of the important 23,900–24,000 support zone. This area had provided support during the recent consolidation but will now be expected to act as resistance on any pullback. More importantly, Nifty has slipped below its 100-week moving average, currently placed at 24,401, and remains below the 50-week MA at 24,673.
Dalal Street Week Ahead: Weak technical setup to keep bulls under pressure
What Happened
The technical structure has deteriorated following the violation of the important 23,900–24,000 support zone. This area had provided support during the recent consolidation but will now be expected to act as resistance on any pullback. More importantly, Nifty has slipped below its 100-week moving average, currently placed at 24,401, and remains below the 50-week MA at 24,673.
Key Details
Original reporting provided by Economic Times Markets.
Why It Matters
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