NIFTY DAILY - 18/4/2024

Nifty opens with positive note but bulls didn’t survive into the market and loss all the day gains at the end of the day.

Market falls another 152 points (around 0.69%).(nearly 774 points in last 4 trading session).

Nifty has formed red body big candle on daily chart.

Bearish engulfing pattern is formed on daily chart, which indicated more bearishness into the market.

Candle is trading below 20 days Simple Moving Average Line. Nifty is above it support level which is 21936 with resistance of 22152 level.

Today’s Advance Decline ratio of NIFTY50
Advance - 14
Decline - 36

FII Sell – 4260.33 crores
DII Buy + 2285.52 crores.

⚠️ Important: Always maintain your Risk & Reward Ratio.

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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.

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