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17166 proved to be good support in weathering Powell storm

Long
Nifty 50 Index (NSE:NIFTY)  
Happy_Candles_Investment  
NSE:NIFTY   Nifty 50 Index
Trend Analysis Support and Resistance Candlestick Analysis NIFTY nifty50 niftyanalysis spotnifty niftyindia niftynearresistance niftytakingsupport niftysupports niftyresistances
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trendanalysis supportandresistance candlestick nifty nifty50 niftyanalysis spotnifty niftyindia niftynearresistance niftytakingsupport niftysupports niftyresistances
17166 proved to be good support in weathering Powell storm. After taking a support at this range we have seen a bounce in Nifty which is nearing it's critical 50 hours EMA resistance. It can also be seen in the chart that this zone is mid channel resistance for the channel ini which Nifty is travelling from around 10th of june. Immediate Supports and resistances are:

Supports of Nifty : 17495, 17392 and 17259, 17166 and 17026. Final support should be considered at 16950.
Bear Grip of Nifty can strengthen below : 16723.
Resistances of Nifty : 17548, 17589 and 17736.
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