June 17, 2022 / 10:08 AM IST
Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One:
The technical chart has been disrupted by the crackdown from the important help zone, suggesting extra room for the autumn available in the market within the close to interval. At current, the Nifty is hovering exactly the place it was a yr again, sweeping all of the yr’s acquire.
On technical parameters, the market is a bit within the oversold area, and the zone of 15000-15200 may present a brief keep to the bears. For now, the zone of 15600-15700 is taken into account a frightening process for the bulls.
Going ahead, our market is more likely to stay risky within the close to time period and is predicted to reflect the strikes from the worldwide friends.
Wanting on the latest fall, it’s suggested to keep away from undue threat and keep mild on positions. Additionally, one must maintain a detailed tab on the geopolitical developments and keep away from aggressive bets until the volatility looms over.