Market Outlook:
NIFTY has formed a good positive candle on the first trading day of the New year and the positivity can continue if there is no negative global cue during the week. Overall Nifty on daily charts has formed a candle similar to ‘Bullish Harami’ pattern, indicating some positive bias in the investors. However, 18301 to 18389 zone is now a strong resistance as shown in the chart.
Major Support Levels: 18084, 17993 and 17777.
Major Resistance Levels: 18257, 18301, 18389 and finally 18473.
NIFTY has formed a good positive candle on the first trading day of the New year and the positivity can continue if there is no negative global cue during the week. Overall Nifty on daily charts has formed a candle similar to ‘Bullish Harami’ pattern, indicating some positive bias in the investors. However, 18301 to 18389 zone is now a strong resistance as shown in the chart.
Major Support Levels: 18084, 17993 and 17777.
Major Resistance Levels: 18257, 18301, 18389 and finally 18473.
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