Day Trad­ing Guide

The Economic Times - - Smart -

De­spite form­ing con­sec­u­tive lower high / low on Wed­nes­day, Nifty re­couped in­tra­day losses to set­tle on a flat note sug­gest­ing in­tra­day dips get­ting bought into. How­ever, a de­ter­rent trend seen among sec­toral in­dices on ac­count of stock/sec­tor-spe­cific ac­tion. RSI line on daily chart, con­tin­ued to hover be­neath re­cent peak of 75.20, which in­di­cates in­dex is los­ing mo­men­tum on up­side. Still, there are no sig­nif­i­cant signs of re­ver­sal vis­i­ble on price chart. Out­look is likely to re­main pos­i­tive as long as sup­port of 8700 is de­fended on down­side.

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