Tech View: Nifty to continue consolidating; 18,060 level holds key

Tech View: Nifty to continue consolidating; 18,060 level holds key

NEW DELHI: Succumbing to inflationary pressure, the Nifty50 on Tuesday formed a lower top formation on intraday charts which analysts said is broadly negative for the index. Nifty opened lower at 18,127.05 and fell down to as low as 17,958.80 before rising to 17,999.20, at which it ended the day. The Nifty, after the recent … Read more

Tech View: Nifty50 consolidation likely to continue; 18K hurdle stays intact

Tech View: Nifty50 consolidation likely to continue; 18K hurdle stays intact

NEW DELHI: Nifty50 on Wednesday faced selling pressure around 18,000 level for the second straight day. The index formed a bearish candle on the daily chart, the second in a row. Analysts said Nifty50 is likely to stay in a consolidation zone in coming sessions. Rohit Singre, Senior Technical Analyst at LKP Securities said Nifty50 … Read more