NIFTY 22 SEPTEMBER 2023 : Expecting a day of bounce after price correction of 500 points from ATH. Support @ 19700.

 

Hello, 

        It has saved 19700 marks which was important. We saw a 500-point correction in just 4 days of trades from ATH. So far, it looks healthy. I must say to remain intact in rally mode Nifty must save 19700 support levels else it can go sidewise 

Suppose, if we see a reversal pattern today on the EOD chart then it can be another phase of rally and perhaps we are on the bottom of this. Today's closing will have a lot of meaning. One can expect a strong reversal day with a gain of around 150 points on Nifty. 

Stock to watch for trading opportunities on the long side are - LT, ACC, and TATAMOTORS. 

Happy trading, 

Praveen Kumar