Nifty entering Resistance Zone
Nifty is entering a resistance zone of 18017 peak of today and 18125. It can take a breather after a superb run since last 8 to 10 sessions. It can correct a bit. a little bit of Profit booking can also be seen. IT stocks will be under little bit of pressure. DOW and Nasdaq have also seen selling from the peak. Phenomenal increase in COVID-19 cases in India can also dampen the spirited run. How ever the opinion polls showing ruling party winning in UP can help the index cross the Resistance zone. Once the Resistance Zone of 18017 to 18125 is crossed the new resistance will be 18243. Supports on the lower side will be 17911, 17850, 17712. Final support is at 17310 below which bears will take control. It will be an interesting day tomorrow. It will be a test for Bulls.
Happy Candles Investment
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.