What next? Reversal to 17k or 15k
Since the Last blog on Nifty, we came across plenty of news, including repo rate hike, Fed rate hike, war-related tension, and inflation.
The entire global market reacted to it with extensive selling.
In the Indian market, FII has sold more than 17000 crs of their holding, which is equivalent to October 2021 stats but this month we still have half a month to go.
On the upside, the market should close above the 16400 in the coming week.
And there should not be any exhaustion gap below the 15600 level which is the next support level, in case this happens we may see a strong sell-out and the price would go to 15000. This level depicts the VAL level, which lowest price level within the area.
The entire global market reacted to it with extensive selling.
In the Indian market, FII has sold more than 17000 crs of their holding, which is equivalent to October 2021 stats but this month we still have half a month to go.
On the upside, the market should close above the 16400 in the coming week.
And there should not be any exhaustion gap below the 15600 level which is the next support level, in case this happens we may see a strong sell-out and the price would go to 15000. This level depicts the VAL level, which lowest price level within the area.
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