Here are 15 data points we have collated to help you spot profitable trades:
Resistance based on pivot points: 23,096, 23,174, and 23,300
Support based on pivot points: 22,844, 22,766, and 22,640
Special Formation: The Nifty 50 formed a long red candle on the daily chart and closed marginally below the 20-day exponential moving average (EMA), reflecting weakness in the market. The index also remained below its 50-day, 100-day, and 200-day EMAs, indicating a weak broader trend. The Relative Strength Index (RSI) edged lower to 47.72 but remained comfortably above its signal line. Meanwhile, the Moving Average Convergence Divergence (MACD) continued its upward trajectory towards the zero line, holding above the signal line. The green histogram bar also expanded for the fourth consecutive session. These indicators suggest that the broader trend remains weak, although improving MACD momentum points to a potential recovery in the near term.
Resistance based on pivot points: 55,779, 55,909, and 56,120