NIFTY 50 : Resistance and Support analysis
Nifty is forming flag section of the pole with resistance at :
R1 - 17950
R2 - 18210
R3 - 18350
R4 - 18605
There is also a gap formed between 17622 and 17675, a 53 point gap which may or may not be filled.
If Nifty comes to fill this gap, it may reverse from R1 (18210) and come down to 17622 which is 588 points and it may be in the form of profit booking on friday, after rallying the entire week.
Post gap filling Nifty may start its journey upwards in the next week.
R1 - 17950
R2 - 18210
R3 - 18350
R4 - 18605
There is also a gap formed between 17622 and 17675, a 53 point gap which may or may not be filled.
If Nifty comes to fill this gap, it may reverse from R1 (18210) and come down to 17622 which is 588 points and it may be in the form of profit booking on friday, after rallying the entire week.
Post gap filling Nifty may start its journey upwards in the next week.
@purvishdiwanji
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