Again the same resistance zone pushes Nifty back.
As described yesterday again the same resistance zone between 21964 and 22063 traps Nifty and pushes it back. Trendline is giving Nifty support and not allowing to fall drastically. The same resistance trapping the candles again and again does not help the rally and makes it weak. Thus the shadow of Nifty is negative. Resistance and Supports for Nifty are as under:
Nifty Supports: 21870, 21819, 21652 and finally 21587. (Below 21587 Nifty becomes very weak and bears come in full force).
Nifty Resistances: 21964, 22063 and finally 22127. (Above 22127 the door for our target of 22357 opens).
Nifty Supports: 21870, 21819, 21652 and finally 21587. (Below 21587 Nifty becomes very weak and bears come in full force).
Nifty Resistances: 21964, 22063 and finally 22127. (Above 22127 the door for our target of 22357 opens).
Happy Candles Investment
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