Nifty at critical juncture - Positive
A very good day for NIFTY moving up 1.57% and closing above 17625. A move of 271.65 points North Wards. What would have made analyst like me more happy would be if it would ended the day just above most critical resistance of 17639. Which was the peak of 13th December 2021 big red candle. Any way Nifty can do it tomorrow with the momentum that it gained today. tomorrow staying above 17639 will be important. If it is done we can see the levels of 17707, 17798, 17945 and much anticipated back to 18K+. sustaining above 18.2K and going back to 18.6K will be special and very difficult looking at the beating that NIFTY got from continuous selling of FIIs sighting valuations. No one including me can predict exact top and exact bottom. This week will be a decisive battle between bulls and bears. Who (Bulls or Bears) will dominate pre-budget season will be decided this week. Bulls have the initiative as of now. Supports on the down side are 17554, 17386 and 17132. Interesting Week ahead.
Happy Candles Investment
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