Technical View: Nifty closes at 3 month low, 17550 level will be important for upside. Despite the positive signals in the market, we have seen tremendous selling pressure in Nifty, which is being attributed to banks.
As we all know that the union budget is going to be released in the coming few days and just a few days before the budget, this kind of selling pressure seems to be a cause of concern for the investors.
Nifty is continuously moving towards the downside by breaking its important support zone. And whether there will be further fall in the stock market after the budget, this is also a matter of concern about which no one has any information.
How will be the move of Nifty on 30 January
By the way, no one knows in which direction the stock market will move in the coming day, but on the basis of technical analysis, we can estimate it.
Selling pressure is being seen in the Nifty index for the last few days and now it is being speculated that there may be a slight pullback in it.
If Nifty starts trading above 17650 level on 30th January then we can see 100 point upside move in it.
Otherwise, if the Nifty index breaks its low after the opening, then we may again see a decline.
On this basis, many brokers also advise to trade in pullback.
But if you want to earn money by trading in option or future, then considering the current situation, do not trade in large quantities and try to keep your losses to a minimum.
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