Daily Nifty50 Analysis

16 Eki 2023

NIFTY
16/10/2023
Overview- US markets have opened higher on account of a large of wave of Corporate earnings data this week. Oil drop below 90/barrel as USA agrees to bring down sanctions on Venezuela.

Outlook for 17/10/2023- Another day of directionless trade as the market opened lower and showed some kind of recovery before dipping again. No clear direction, Support levels can be seen at 19688 and 19620 while a resistance can be seen at 19808 and 19836. Risk reward is essential to avoid losses in such a directionless market.
Note - This is purely educational and not am investment advice.