The Nifty has been in a short term correction mode for the last couple of weeks. On September 26, it had a gap down opening on account of the global cues & had a follow through selling as well. On the way down, it breached the August swing low of 17166. The selling pressure was absorbed near the 200 DMA. <\/p>\n\n\n\n
The index also has a support from a gap area of 16947-17018, which was formed in July on the daily chart. The index attempted an intraday bounce thereon however couldn\u2019t have a sustainable recovery. On the higher side, 17200 is acting as a near term hurdle. On the flip side, if the Nifty breaches the gap area, then it can continue to slide till 16800.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Nifty has been in a short term correction mode for the last couple of weeks. On September 26, it had a gap down opening on account of the global…<\/p>\n","protected":false},"author":1,"featured_media":1238,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[11,7],"tags":[],"class_list":["post-1377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-index","category-markets"],"aioseo_notices":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/devoutinvest.com\/wp-content\/uploads\/2021\/09\/bse-market-markets-stock-market-1608697159-78572620.jpg?fit=620%2C464&ssl=1","jetpack-related-posts":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/1377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1377"}],"version-history":[{"count":1,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/1377\/revisions"}],"predecessor-version":[{"id":1378,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/1377\/revisions\/1378"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/media\/1238"}],"wp:attachment":[{"href":"https:\/\/devoutinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}