NIFTY is facing stiff resistance near 17500 levels. Currently sandwiched between EMA 21 and EMA 89 on the daily chart. On 3-hour chart, EMA 200 and EMA 89 providing resistance at 17450 levels, and on hourly chart EMA 200 providing a resistance at the same level. On the weekly chart, the wedge trendline is acting as a resistance around these levels. Overall, very difficult to break 17450.
On the lower side, EMA 89 on daily chart is providing support around 17400 levels. 17350 is also a firm support based on previous trends. Also current max pain is around 17400.
Disclaimer: I am not a SEBI registered investment advisor. All views are strictly for educational purpose. Trading on these views is not recommended.
On the lower side, EMA 89 on daily chart is providing support around 17400 levels. 17350 is also a firm support based on previous trends. Also current max pain is around 17400.
Disclaimer: I am not a SEBI registered investment advisor. All views are strictly for educational purpose. Trading on these views is not recommended.
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NIFTY rangebound
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