Nifty 50 continues to trade under pressure. The strong rise witnessed in the early trades on Monday failed to sustain. The index had come down sharply from its intraday high of 24,791 giving back all the gains. Nifty is trading flat as of now today. It is currently at 24,640. The advances/declines ratio is at 27:23. This indicates that the sentiment is mixed now and can go either way.

Nifty 50 Outlook

On the intraday chart, it looks like the Nifty is stuck between 24,600 and 24,800. The bias is negative to break below 24,600 and fall to 24,500-24,450.

A decisive break above 24,800 and then a subsequent rise past 24,900 is needed to completely ease the selling pressure. Only then the bias will turn positive, and the Nifty can rise to 25,000 and higher levels.

Nifty 50 Futures

The Nift

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