Stock Market Live Update: Sudeep Shah’s opinion on SBI Securities
SBI securities In Head, technical And derivatives Research Sudeep Shah Says that going forward, for Nifty, 50-day range of 25750-25700 EMA zone one important support Will do the work. If the index is 25700 level If it goes below 25550 level There may be further decline. On the upside, 20-day 25950-26000 EMA An important for zone index resistance Will do the work. Rise above 26000 takes Nifty to 26150 level Can accelerate up to.
He further said that banking benchmark Index, Bank Nifty, Apne 20 day EMA closed below, which Short term Momentum indicates a decrease. More importantly, deli RSI tightened near the 60 mark resistance found, which indicates that RSI Range shift according to principles Momentum Range bullish From sideways In shift It is happening. It tells that buyers The strength of is weakening and until it strong follow through important with resistance does not regain the zone, the index no longer Consolidation phase Can go in, ,
Going forward, 58700-58600 level important for index support will work because the previous swing Lo is in the same zone. Any sustainable move below 58600 Short term 58000 in level till and correction Can cause. While on the upside, the zone of 59300-59400 is an important point for the index. resistance Will do the work.