Nifty preceisely stopped at the indicated resistances yesterday.
What was depicted yesterday was very similar to what happened. Channel top proved to be a tough resistance to conquer and Nifty today rested just above mid channel line at18286.50 We had very accurately indicated the support at 18284. This is as precise as you can get with Technicals😌😊.
Now What?
We have this support or the next support at 18267. If 18267 is taken down we can further fall to 18190 or 18140. (Next support levels.).
You can also see in the previous and current chart that invariably Mid channel line has proven to be support and NIFTY has bounced from here 4 times previously. So Let us hope we get a support from mid channel line and we can bounce from here. If we bounce from here next resistance will be 18340 and 18384. Interesting day tomorrow to see in which direction the NIFTY goes.
Now What?
We have this support or the next support at 18267. If 18267 is taken down we can further fall to 18190 or 18140. (Next support levels.).
You can also see in the previous and current chart that invariably Mid channel line has proven to be support and NIFTY has bounced from here 4 times previously. So Let us hope we get a support from mid channel line and we can bounce from here. If we bounce from here next resistance will be 18340 and 18384. Interesting day tomorrow to see in which direction the NIFTY goes.
Happy Candles Investment
