Thursday, March 5, 2020
Nifty50 on 5th March could not hold intraday gains, as it fell 120 points from day’s high to end marginally higher. The index formed a Bearish Candle on the daily chart, as the consolidation process continued.
“Nifty not showing any sustainable upside bounce from the support is not a good sign. This current ‘sell on rise’ pattern could eventually result in a sharp downside breakout of the support a 11,100 level over time,” experts opined.
Some experts feel that Nifty is to tumble towards the recent low of 11,036 and the downside potential remains intact as long as Nifty trades below the near-term resistance zone at 11,400-11,433.
“The immediate support for Nifty stood in the 11,180-11,075 zone. The immediate resistance is seen in the 11340-11240 range," according to some technical Analyst
