NIFTY OUTLOOK (Resistance at 17774 - 824)

5 мар. 2023 г.

NIFTY on EOD basis has given a good closing above its previous day high. This is always considered to be a very good bullish pattern.
The upcoming resistance will be at the zone of 17774 -17824 (50 Points). The Fibo retracement of 0.33 lies in this zone too. A breakout above it will lead the Nifty towards 18071.

CHART & ANALYSIS
ADARSH DEY

6 мар. 2023 г.

Сделка активна

1st Target Reached. Currently Nifty is in the first resistance zone(17774 -824)

7 мар. 2023 г.

Заметка

The Resistance Zone was respected. Fresh Up move can be once the resistance zone is Broken.

10 мар. 2023 г.

Заметка

On 9th March NIFTY took resistance by making a high at the exactly at 17772 just "2 points" away from the mentioned level of 17774.

Currently the support zone stands to be at 17467 - 17347

10 мар. 2023 г.

Заметка

As mentioned previously the support zone stands to be at 17467 - 17347, Nifty made a low near the lower band of the support zone. The low was made just "23 Points" less than 17347 at 17324. The candle formed today has longer lower wick forming a hammer kind of pattern. However a bullish candle is needed on the next day for a confirmation of Buy.