Nifty InstaView 15 Apr’21: Drag Up


Nifty View: Benchmark Nifty manages to post a fine bounce back from today’s intra day low of 14,374. At a close of 14,597 the index has managed a 2-day slow bounce back post the sharp sell-off which we noticed on 12th of April’21. The underlying short term trend of the index is still very much down and the index needs to take off immediate resistance zone of (14,700-14,800) for a trend reversal. Sectoral indices are divided and it’s difficult to take a confident call on the major direction of the market. Strategically it makes sense to stay wit the underlying trend which is down and look for sell-on-a-rise opportunities.

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