NIFTY is in search of Bottom which might be around current zone to 15590. if 15590 is broken we may be heading for a sub 15K bottom near 14779 range. 14779 can provide a very strong support on the lower side and on the upper side now 15900, 16200 and 16400 will be strong resistances. Short covering that might come after bottom formation will be very fast and ruthless. Global sentiments are week and some positive news on Crude / War / Inflation and stability in Supply chains will only help the market settle down and release the panic valve. Markets are falling in line with international indices falling. India in a long run is set to benefit from scheme on things. Short term out look is negative but long term outlook on India still remains bullish.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.