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WHY NIFTY WENT UPWARDS TODAY, HERE'S WHY - 26/04/23

Long
Nifty 50 Index (NSE:NIFTY)  
peace_lover  
NSE:NIFTY   Nifty 50 Index
Trend Analysis Support and Resistance Beyond Technical Analysis Technical Analysis NIFTY niftyanalysis stockmarkets Bullish Patterns trading SPX (S&P 500 Index) supportandresitance Gold
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trendanalysis supportandresistance beyondta technicalanalysis nifty niftyanalysis stockmarkets bullish trading spx supportandresitance gold
  • Nifty took support from the support line tested by previous day support & day before yesterday's strong resistance after the opening of the day and consequently went upwards a lot due to the support line being very strong due to presence of multiple support & resistances on the last 2 days

  • After that it took resistance from a previous day resistance line and consolidated a lot in the second half

  • But the resistance line being weak due to the presence of only one earlier resistance it was breached during the end of the day and nifty went upwards again

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