NIFTY 17 APRIL 2025 - Get ready to have a litmus test on Nifty at 23500 levels. One must wait before adding long.
Hello everyone,
As of now, I have few important points here.
Firstly, Nifty April future is trading at discount.
Secondly, Nifty spot is very close to 38.20% retrechment levels which is at 23482 as of now.
My next concern is that there aren't many stocks that are encouraging me and could serve as market catalysts whenever the market recovers.
In addition, I do not advise shorting this market until there is a breakout. Await the 23190 level break. For traders, it is very difficult to sit without a position, but one should perform this difficult task at this time.
The US market is still unsure. I anticipate a lot of downward revisions from the brokerage.
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