Street Signs: Nifty at 20K, Musk's visit postponement impact on auto stocks

Will Nifty hold above 22,000?

The 20,000 mark is seen not just as an important psychological mark for the benchmark Nifty50 index, but also a crucial support. The consensus view among technical analysts is that a decisive break of this level could see the index slipping to the 21,700 level. Meanwhile on the upside, the Nifty faces resistance at 22,300, which is its 20-day exponential moving average (Dema). “The market conditions would remain tentative till there is global uncertainty, and that could be seen on technical charts too. As far as levels are concerned, the psychological mark of 22,000 withholds