Nifty Today: “Take a Break” - 16 Feb’22


Nifty View: Flat close for the Nifty index in today's trading session - at a close of 17,317, the index lost just 43 points on a day on the basis. We see this as a sign of consolidation, especially after the recent wild price oscillation. It was good to notice that the Nifty and BankNifty indices reacted today from our anticipated resistance zones. Also, from now on towards tomorrow's trading session, it is very likely that the index will face selling pressure, and a break below today's low can infuse fresh selling. The underlying trend is still down, so trade cautiously, especially if you are long-biased.
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