Will Nifty Cross; 18K like a boss?Nifty was going well till it met resistance as expected near 17794 zone where it made this week’s high. In order to surpass the zone and go towards 18K+ Nifty needs to close above 17627 conclusively which is immediate resistance. Other important resistance being the zone near 17800 and 17903. Supports on the lower side will be 17257, 16838 major support on the down side will be 16348 which is 50 weeks EMA.
Niftynextweek
Market Outlook for Remaining days of January 2022. What we saw during most of last week starting from 18th Jan was an exhaustive selling rally lead by massive fall in IT index. On Friday Nifty formed a Green Doji indicating that further downside might be limited if NIFTY can sustain above 17707 which was high of Friday and more specifically above 17779 in the coming week. Resistances on the upper side if Nifty closes above 17779 will be 17950 and 18186. Supports on the lower side will be 17481, 17313 and 17070.