Transcription of Eagle Eye Equities - Sharekhan
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Eagle Eye Equities - Sharekhan
IndexPunter s CallLooking TrendyNifty TraderSmart ChartsMomentum SwingBank NiftyBank Nifty TraderKey IndicesDay Trader s Hit ListEagle Eye EquitiesSeptember 12, 2022 Visit us at Private Circulation onlySeptember 12, 2022 2 SharekhanEagle Eye EquitiesNifty daily: Market breadthBSENSET odays (Rs.)4, Cr57, CrConsolidation to continueThe Nifty is stuck in a consolidation range for the last few weeks. On the higher side, the psychological mark of 18000 is acting as a cap. On September 09, the index moved up to test this barrier where the selling pressure started building up again as the index inched closer to 18000. Unless that level is surpassed, the Nifty is expected to stay in the consolidation mode for the next week.
hourly upper Bollinger Band is also present near 18000. Thus, 18000 is a key level where the bulls can take a pause for a breather. However, if the bulls manage to push the Nifty beyond 18000 then 78.6% retracement of the entire October-December decline i.e. 18140 will be the subsequent level to watch out
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