NIFTY Intraday Levels | 16th Sep
• Support & Resistance zones for 16th Sep .
• The Nifty50 has made an attempt for the third straight session to surpass 18,100 but failed. Hence, 18,000-18,100 is expected to be a crucial area to watch going ahead and if the index decisively surpasses the same then a march towards record high levels is highly likely, with crucial supports at 17,700 & 17,500 levels.
• Nifty has formed a bearish candle on daily charts and a double top formation on intraday charts indicating continuation of weakness in the near future.
•trading set-up suggests that a fresh round of selling is possible only after the dismissal of the 17,800 support level.
If the index trades above 17,800, then it could retest the level of 18,100- 18,150. On the flip side, below 17,800, a quick intraday correction is not ruled out. Below which, it could slip to 17,700-17,650,
• Option data indicated that in the immediate term, the index may see a trading range of 17,600 to 18,100 levels.
• Zones marked / drawn on chart can act as a Support & Resistance for price to stuck / to face hurdle.
Remaining space can be straight way for Price to make moves.
• • •
• The Nifty50 has made an attempt for the third straight session to surpass 18,100 but failed. Hence, 18,000-18,100 is expected to be a crucial area to watch going ahead and if the index decisively surpasses the same then a march towards record high levels is highly likely, with crucial supports at 17,700 & 17,500 levels.
• Nifty has formed a bearish candle on daily charts and a double top formation on intraday charts indicating continuation of weakness in the near future.
•trading set-up suggests that a fresh round of selling is possible only after the dismissal of the 17,800 support level.
If the index trades above 17,800, then it could retest the level of 18,100- 18,150. On the flip side, below 17,800, a quick intraday correction is not ruled out. Below which, it could slip to 17,700-17,650,
• Option data indicated that in the immediate term, the index may see a trading range of 17,600 to 18,100 levels.
• Zones marked / drawn on chart can act as a Support & Resistance for price to stuck / to face hurdle.
Remaining space can be straight way for Price to make moves.
• • •
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