Nifty In Technical Charts: Bears Still Dominate

Any thoughts of a rally can be considered only if the Nifty can haul itself above the 17,250 levels.

<div class="paragraphs"><p>(Photo: Freepik)</p></div>
(Photo: Freepik)
In last week's article, the view was that it would be a sell on the rally type market. Though Monday started with some distinct weakness, prices managed to recover for the next three days on a reckoning that the U.S. rate hikes would moderate or even be halted and allowed the Nifty to move towards the nearest supply zone at 17,250. Sellers were ready and waiting at that level and promptly set about their work. Negative news flows—STT...
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