Bottomline:
Nifty50 may extend its decline further, with most of the Indicators and Oscillators in charts exhibiting
further weakness with the supports near the 17280 and 17090 regions. In the past two sessions, retail
investors have surprisingly increased their Bullish bet in Indices, in the Derivatives Segment whereas
The FII and the PRO have increased their bearish position. The SEBI report published a few days back
shows that almost 90% of Retail lose money in Derivatives, so the probability of Indices remaining
bearish until the positions are squared up remains high.
Crucial Levels: 17689, 17632
Critical Level: 18007
Resistance: 17689, 17772, 17931
Support: 17280, 17090
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Disclaimer:
This is intended to provide general and preliminary information to investors/ traders and shall not be construed as the basis of any information decision or strategy. This content is intended to be used and must be used for informational purpose only. It is important to do your own analysis before making any investment based on your own personal circumstances.
