NIFTY| NSE | BSE | SENSEX | STOCK |MARKET LIVE |SHARE MARKET LIVE |INDIAN STOCK LIVE |NIFTY LIVE | UPDATES JULY 27 2020 | Chronicleplanet.com

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NIFTY| NSE | BSE | SENSEX | STOCK |MARKET LIVE |SHARE MARKET LIVE |INDIAN STOCK LIVE |NIFTY LIVE | UPDATES JULY 27 2020

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NIFTY| NSE | BSE | SENSEX | STOCK |MARKET LIVE |SHARE MARKET LIVE |INDIAN STOCK LIVE |NIFTY LIVE | UPDATES JULY 27 2020

Dominating bulls are back as the benchmark index Nifty has conquered 11,000 psychological mark. Monthly Heikin candlestick pattern is flat bottom with higher high formations, at the same time, it has closed above the previous candle’s high which suggests that the positive trend is still intact.

Nifty is trading above 200 DMA and interestingly this crucial moving average has stopped falling, implying mid-term price action to remain above it. The recent upmove of the index has filled an important bearish gap placed around 11,230 mark and any further move can fill another higher gap standing around 11,633 levels. Tough in the very near term as the majority of the oscillators are in the overbought zone, the possibility of retracement towards the support zone cannot be ignored.

Immediate support is provided by a line of polarity & 200 DMA near 10,800 mark. Every dip will be called correction; however, DTC (down trend continuation) leg will give confirmation only below 10,580 mark till then one can opt for buy on dip strategy.