NIFTY DAILY - 5/6/2024

Nifty opens gap up and bulls were struggle to survive into the markets and made days low 21791 level.

Afterwards bulls came back into action and made days high which is 22670 with 735 points up which is almost 3.36% up.

Nifty has formed a big bullish candle on daily chart with long lower shadow which indicates participants were buying from day’s low.

Candle is trading below 19 Days Moving Average Line.

Further levels for nifty can be 22794 level which is resistance and support will be 22400 level.

Bank Nifty levels
Support – 48568
Resistance – 49334

Today’s Advance Decline ratio of NIFTY50
Advance - 48
Decline - 2

FII Sell – 5656.26 crores
DII Buy + 4555.08 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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