Nifty retreated after coming within touching distance of All time high. Perhaps it will check the box after one more push or rally within rally. Within every Bull run there are phases where Index or a stock cools down its RSI (relative strength index). Similarly Within every bear run there will be phases when market will be oversold and stock rises to balance RSI.
This particular fall of Nifty can be considered one such pullback within the bear run. The Bull run reverses or bears take over if Nifty gives a daily closing below 18169.(This will be key major support). Other than that support and resistances are as under:
Nifty Supports: 18555, 18512, 18465, 18402 and 18354.
Nifty Resistances: 18601, 18649, 18721 and finally 18778.
This particular fall of Nifty can be considered one such pullback within the bear run. The Bull run reverses or bears take over if Nifty gives a daily closing below 18169.(This will be key major support). Other than that support and resistances are as under:
Nifty Supports: 18555, 18512, 18465, 18402 and 18354.
Nifty Resistances: 18601, 18649, 18721 and finally 18778.
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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.