Bottomline:
Nifty50 has taken support on the Lower band of the Keltner channel and bounced back which is also 50% from the low of 16747.70. Close of the Nifty50 is above the prior candle close which is a positive sign for short time frame. Nifty50 will find the major resistance near 18290 – 18299 region. The break of the support at 17962 will indicate that the correction is over and it is heading for a new low below 17774.
Crucial Levels: 18108, 18058
Resistance: 18197 – 18207, 18299
Support: 18108, 18058, 17962
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Disclaimer:
This is intended to provide general and preliminary information to investors/ traders and shall not be construed as the basis of any information decision or strategy. This content is intended to be used and must be used for informational purpose only. It is important to do your own analysis before making any investment based on your own personal circumstances.
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