Nifty is currently oscillating within a symmetrical triangle between 23,300 and 23,800. A decisive breakout in either direction should establish a new demand/supply channel in the 22,600–24,300 range. Foreign institutional investors have been net buyers for three consecutive sessions. Today’s FII net purchase is approximately ₹2,800 crore. Despite a roughly 250‑point gap down at the open, Nifty recovered throughout the session, which suggests underlying bid strength.
Sector internals reinforce the constructive tone: Nifty IT and Nifty Pharma have registered notable demand over the past 2–3 trading sessions. Taken together, the combination of sustained FII buying, intraday resilience after a large gap down, and sectoral accumulation points to the possibility of a positive catalyst within this week.
Sector internals reinforce the constructive tone: Nifty IT and Nifty Pharma have registered notable demand over the past 2–3 trading sessions. Taken together, the combination of sustained FII buying, intraday resilience after a large gap down, and sectoral accumulation points to the possibility of a positive catalyst within this week.
Note
India VIX is down by 5 percent. I am hoping we will see breakout upward for the next target of 24400-600
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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.