Nifty InstaView 08 Apr’21: Break and re-test on the same Day


Nifty View: Quite an eventful day for the benchmark Nifty in today’s trading session. The index did manage the anticipated breakout above the psychological 15K mark, but then towards the end slipped significantly. At a close of 14,937, the index is still below the jinxed 15K mark. It was the banking stocks that disappointed the index most in today’s session and going forward this can continue to be an issue if the index fails to inch above 15K. On the upside, a move above 15,050 and we are back on a high-momentum uptrend with immediate supports now at 14,800. Stay cautiously bullish.          

Thank you for following my work and please feel free to share your thoughts and suggestions.            


Trade Well. Trade Wise.