Nifty Analysis for 25th October

Nifty Analysis for 25th October and week analysis :

After Hitting all time high at 18600+ zone nifty went into overbought zone and came under profit booking in last week. Only Banknifty is more resilient last week.

#Nifty taken support around 18050 zone on Thursday and Friday and made #DoubleBottom.

If you check above chart nifty formed symmetrical triangle. Breakout either side will give good move either side.

Monday opening and first one hour session is very crucial. if Monday nifty is able to hold above 18250 than bull run will resume. Fall can see only below 17950 upto 17770-17800 zone.

There are lot of Call writing at every strike price from 18200 to 18600. Strong opening and stable first one hour needed for any further upmove.

Immediate support at
18044

Next support at
17950

Immediate Resistance at
17200-17250 zone

Next Resistance at
17360