On the Down side

BY A STAFF REPORTER

*On the Down side :-*

Indicators are showing some reversal mode for short term basis from their over bought situation which *indicates cautious at higher or decisively breaks below 18080 then supports are 18015 & then major 17960-to very major 17888.*

*On the Up side:-*

*Otherwise if holds 18080 & bounces further specially above 18144 then move possible towards 18175—18210 & 18250.* Above 18250 major resistance at 18350. Fresh bullish move only above that. Crossing above the same as a swing basis we can see further 18500-18600 levels. 

*Remark :- 18080 is crucial trend deciding area , either chances of bouncing or otherwise Fresh negativity if stays below 18080.*

*As main bullish structure is intact so reasonable support should be the buying opportunity.* 

*India Vix* rising, showing strength from area 16. Closed at 17.78, up more than 6% day to day basis. 

*Bank Nifty Spot* has support at 37800/37600 levels while resistance at 38600/38800 levels. Flat closing at 38210.

Source : Eureka

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