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nifty 50 faces pressure as bank nifty holds key support level
The Nifty 50 closed just below the 200-day EMA at 23,533, marking a 2.55% weekly decline, indicating potential further losses towards the 50-week EMA at 23,200. A rebound is possible but deemed unlikely to be sustainable. Meanwhile, the Bank Nifty closed at 50,180, with a potential bounce towards 50,500–50,800 if it holds above the 200-day EMA.
Moneycontrol
Indian Rupee Angel One Limited IND Rajesh Bhosale
Finance & Economy, Market Report
20:14 17.11.2024
nifty faces selling pressure as key support levels come under threat
The Nifty 50 faced significant selling pressure, closing at 24,181 after a 219-point drop, with expectations of breaching the crucial support level of 23,894. The Bank Nifty also declined, ending at 50,787, with support anticipated around 50,200-50,000. Market breadth favored bears, with 2,138 shares declining against 376 advancing.
Moneycontrol
Indian Rupee Angel One Limited IND Rajesh Bhosale
Finance & Economy, Market Report
18:37 27.10.2024
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