3rd day consecutive fall – another bearish candle - lower top lower bottom formation.
Nifty Spot closed at 18178 - Day to day basis down 88 points.
Below 5 dma 18335 all Bearish targets 18250—18200—18166 & even 18110 broke.
Corrected upto crucial support 18040 i.e. 50% of the previous total rise from 17453 to 18604 and we saw a perfect bounce from 18048 to 18222 < screen closing> but weighted closing at 18178.
Almost after 555 points correction if Nifty holds 18040/50 & sustains above 18110/18166 consolidation is very likely mainly in between 18340/360 to 18060/18040.
Wide Range 18410 to 17950.
On the upside :-
Intraday basis Bulls need to break above 18222 & more above 18255 for a move towards 18290-18330. Swing basis Major hurdle 18360-18390. 18410 very crucial to break.
On the Down side :-
Intraday basis Bears need to break 18166/150 for a move towards 18110 & 18040. Swing basis Major support 18000—17950.
The Option Table data indicates decent support at 18100 and reasonable resistance at 18400.
India VIX flat closing around 18.03. High 18.80 & Low 14.91. Range 19.30—13.80.
/ )
/anm-english/media/post_banners/VWGgL0VYscmFkiFsM8ZY.jpg)
/anm-english/media/agency_attachments/AtBG5e3MoE629QYzhZen.png)