Seja a primeira pessoa a gostar disto
Today morning, Nikkei and Shanghai are little changed while Hang Seng is up about 0.7%. SGX Nifty is suggesting a marginally higher start for our market.
After Nifty broke the immediate support of 11870, we have working with downside target of 11770, which was the bottom made on 7th June. Nifty, on Friday, touched a low of 11797 before closing at 11823 and is set to open flat today.
11770, the low made on 7th June, continues to be support to eye. If that breaks, 34-DMA, placed around 11700, would be the important support.
A trendline adjoining recent tops on the hourly chart presents a resistance around 11940 and that would be the immediate hurdle to eye.