Nifty is moving in consolidation.
Support zone is 17575-17600. (Nifty made a new low @17576 on Tuesday to push out the weak traders which the market always does when it has further up-move pending)
17800 is acting as short term resistance.
Breakout on either side of consolidation zone could push the index to either new highs or lower to 2nd support which is placed at 17300-17350 zone.
Support zone is 17575-17600. (Nifty made a new low @17576 on Tuesday to push out the weak traders which the market always does when it has further up-move pending)
17800 is acting as short term resistance.
Breakout on either side of consolidation zone could push the index to either new highs or lower to 2nd support which is placed at 17300-17350 zone.
Comment:
Bounced back from the support zone
Day low @17590
Day low @17590
Trade closed: stop reached:
Nifty breached the support zone
Nifty entered the resistance zone (i.e 17775-17800) and took a reversal.
Day high @17781