Description
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We will see a flat to a positive opening in Indian Indices today as per IN50USD data.
NIFTY50 Index is trading at a supply zone/PRZ zone which we have calculated using our HARMONIC XABCD Pattern.
Today Index has a narrow trading range, and we may see the Index trading on both sides today.
Nifty Major resistance 18,400 levels.
18,240 will act as a support.
For Buying (long)
Consider a buying position above 18,360 for the targets of 18,400/18,420/18,450
For Selling (short)
Consider a short position only below 18,305 for the targets of 18,290 to 18,260
Be careful the range is small, and we'll see the movement on both the sides, Quick profit booking suggested.
Trade setup
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Key RESISTANCE is: 18,400
Key SUPPORT is: 18,240
Trade Accordingly!