Nifty Not sustaining above mid channel support not a good omen
Updated
Nifty Not sustaining above mid channel support not a good omen for the Bull run. Somehow Nifty has to make a comeback in next 2 or maximum 3 days and sustain above Mid channel line which is around 18413 mark.
Right now Nifty als faced a trend line resistance which emancipates from previous top. The zone was too hot for Nifty to handle and it leaped back towards the support of 18323.
Supports for Nifty Will be at: 18323, 18275, 18206 and finally 18068 to 18040 zone. (Major buffer Support). Below 18K Bears start to loose control.
Resistances for Nifty: 18413, 18455, 18525 and finally 18601 (Major Resistance).
Right now Nifty als faced a trend line resistance which emancipates from previous top. The zone was too hot for Nifty to handle and it leaped back towards the support of 18323.
Supports for Nifty Will be at: 18323, 18275, 18206 and finally 18068 to 18040 zone. (Major buffer Support). Below 18K Bears start to loose control.
Resistances for Nifty: 18413, 18455, 18525 and finally 18601 (Major Resistance).
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As indicated here yesterday there was some negativity in the chart which reflected on the market today. 18275 was indicated as major support and Nifty closed today just above it at 18285. So again 18275 will be a good support from where Nifty can rise. 18323 which was a support earlier will be a resistance now. next resistance at 18343 and 18413. A8275 and 18206 will act as supports.
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