Daily

Daily Market Update Report 01-04-2020


Nifty opened higher, traded with positive bias throughout the day to close in green. On the daily chart, we are observing positive candle with narrow range body formation which has tested the immediate resistance of 8672 (23% Fibonacci level) but have closed below it. In coming trading session if Nifty trades above 8678 then it may test 8750 - 8830 levels. On the downside, 8400 – 8300 levels may act as support for the day.

We still maintain our stance that the trend remains down hence at higher levels we may witness selling pressure. Hence cautiously positive approach should be adopted at current level.

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