Stock Market: Nifty Falls in Second Session Due to Negative Global Cues
The Nifty closed lower in the second session on 23 June 2021 due to negative global cues. After a decline of 0.85%, the Nifty formed a bearish dark cloud cover pattern on the weekly chart. This suggests that a quick recovery and further rise above the all-time high may be difficult in the near term.
Key Highlights:
– The Nifty fell in the second session on 23 June 2021 due to negative global cues.
– The weekly chart shows a bearish dark cloud cover pattern, indicating a possible decline.
– Short-term resistance is seen at 18795, while support may be found in the range of 18459-18555.
H3: Nifty Forms Bearish Dark Cloud Cover Pattern on Weekly Chart
The Nifty fell in the second session on 23 June 2021 due to negative global cues, with a decline of 0.85%. As a result, the index formed a bearish dark cloud cover pattern on the weekly chart. This pattern suggests that a quick recovery and further rise above the all-time high may be difficult in the near term.
H3: Short-Term Resistance Seen at 18795, Support at 18459-18555
In the short term, the Nifty may face resistance at 18795. However, support may be found in the range of 18459-18555. Traders are advised to watch for these levels and take appropriate positions accordingly.
To summarize, the Nifty closed lower in the second session on 23 June 2021 due to negative global cues. The bearish dark cloud cover pattern on the weekly chart suggests a possible decline in the near term. Short-term resistance is seen at 18795, while support may be found in the range of 18459-18555. Traders are advised to watch these levels and take appropriate positions accordingly.
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