Market Watch: Upside trend still intact for Nifty; All eyes on RBI MPC today
The short-term trend is still on the upside as Nifty has been forming higher highs and higher lows on the 30-minute timeframe.
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The short-term trend is still on the upside as Nifty has been forming higher highs and higher lows on the 30-minute timeframe.
21800-21750 remains the intermediate support for Nifty, while the 20 DEMA placed around 21650 is to be seen as a sacrosanct support zone for the comparable period.
21900 would be acting as the intermediate resistance for day traders. On the lower end, 21680-21650 is expected to act as an intermediate support zone, say analysts.
The focus now will shift back to the end of the Q3 earnings season and the Monetary policy meet of the Reserve Bank of India scheduled this week.
Delisting of country's largest mortgage lender HDFC shares is likely to pave the way for LTIMindtree to enter the benchmark Nifty50 index.
The Indian stock market ended its two-day concurrent gains and ended in a volatile session on June 22. Take a look!
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