Nifty on a 30-minute chart is looking very confident of staying in the upper half of the channel in which it is travelling. On last 3 occasions Nifty has jumped upon reaching the mid channel support of the mid channel line. Indicating that strength of the rally is intact so far.
However, on the last 4 occasions when Nifty tried to cross the Channel top it was made to retreat indicating a strong channel top resistance.
Nifty Resistances going further will be: 18455 and 18500.
Nifty Supports going further will be at: 18384, 18284, 18267 (Very Strong Support).
However, on the last 4 occasions when Nifty tried to cross the Channel top it was made to retreat indicating a strong channel top resistance.
Nifty Resistances going further will be: 18455 and 18500.
Nifty Supports going further will be at: 18384, 18284, 18267 (Very Strong Support).
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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.