On the last trading day of 2022, Indian headline equity index Nifty charts today showed the formation of a Bearish Engulfing type candle pattern. Analysts say that having moved in a broader range of 18200-17950 levels in the last few sessions, the probability of further consolidation is likely.
Now, the index has to continue to hold above 18181 zones, for an up move towards 18350 and 18442 levels whereas supports are placed at 18081 and 18018 levels.
Option data suggests a broader trading range in between 17700 to 18600 zones while an immediate trading range in between 17950 to 18400 zones.
Now, the index has to continue to hold above 18181 zones, for an up move towards 18350 and 18442 levels whereas supports are placed at 18081 and 18018 levels.
Option data suggests a broader trading range in between 17700 to 18600 zones while an immediate trading range in between 17950 to 18400 zones.