GIFT Nifty signals muted start while Asian shares trade lower.
Context
What happened: GIFT Nifty on NSE IX traded lower, pointing to a muted start for domestic equities on Monday, while Asian shares traded lower.
Key numbers: GIFT Nifty down 24.5 points, or 0.11%, at 22,583.5. Analysts see immediate resistance for the Nifty at 22,850, where the 20-day EMA is positioned. The previous week's high of 23,175 is likely to act as a major hurdle this week.
Why it matters: The resistance levels cited by analysts frame where the Nifty may face hurdles, with the 20-day EMA and last week's high marked as key levels to watch.