Trade Setup: Nifty up for a gap-down start. Will it be a chance to buy low?
Markets are staring at two definite things as it approaches Friday’s trade. Nifty would open after the gap of a trading holiday and try and adjust to the global trade. The global trade setup is weak and this will see Nifty open with a gap down. At the same time, we strongly expect Nifty to open near its strong support zone at 16,300-16,350. Therefore, it is also strongly expected that the domestic market will show resilience to the global weakness and may perform relatively better.
19 Aug, 2021, 07.26 PM IST