Technology View: NIFTY FACES BEARISH Reversal, Key Support of 22,800. How to trade on Monday

The long bear candle is formed on the weekly chart, which represents the reversal of the disadvantages after two weeks of repercussion. Negative chart patterns, such as the top and bottom, are implemented according to the daily and daytime frame charts.

With the support of 22,800 levels, the decisive movement can open the next drop of about 22,450 (20 months EMA) in the short term. Nagaraj shetti of HDFC Securities said that immediate resistance was deployed at 23,250.

In the public interest (OI) data, the highest OIs on the call side were observed at 23,000 and 23,100, and the highest OI on the foot side was 22,900 at a blow price of 22,800.

What should a trader do? The analysts said:

The Satish Changra Aluri, Lemonn Markets Deskbenchmark Index has sold the extension of the sale every week on Friday as the eighth consecutive session on Friday. The plan to impose the US President Trump’s mutual tariffs on the index, which could be more affected by India. Technically, the NIFTY 50 is closed below the level of 23,000 people, which may cause additional losses in the upcoming session, and 22800 is the following immediate support.

HRISHIKESH YEDVE, Asit C. Mehta Investment Interrmediates

Technically, Nifty forms a triple floor of about 22,780 on a daily size to show strong support. However, the red candles of the daily and weekly charts indicate the lack of strength of the rise. On the 21st, the simple moving average (DSMA) is arranged at about 23,260, making the 23,260-23,300 zones immediately obstacles. The decisive movement of 23,300 or more can check the short -term floor reversal pattern.

Jatin Gedia, Sharekhan

In the daily chart, we can see that Nifty has tested the 22800 swing for the last one month. We believe that there is a possibility of testing and testing the bottom of wedge 22,670-22,600 during the coming week. In the rising seat, the resistance zone of 23,000-23,100, which matches the main time of the main time, must be raised under inspection. The big addition to the open interest on the 23,000-23,300 call option strikes must also keep the benchmark under pressure, and we expect NIFTY fullback to be sold until the cokewriter is released. Overall, we will continue to keep our negative position.

(Exemptions: Recommendations, proposals, views, and opinions provided by experts are itself.