May 3, 2021

NIFTY EOD charts

- nifty opened gap down but managed to close flat at 14634
- at one time, nifty was down almost 1.5%
- AD was 3:2

- typically, a gap down opening followed by close near day's high has bullish implications
- but this year, markets are either tired or just consolidating
- reason is mid JAN nifty was near 14500 and today we are still there

- support is developing around 14000
- resistance/ swing high is at 15000

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