**Nifty 50 Technical Analysis for 10/10/2023**
**Support Levels:**
* 19400
* 19300
**Resistance Levels:**
* 19600
* 19688
**Overall Bias:** Bearish
**Analysis:**
Nifty 50 closed below its support level of 19500 on October 9, 2023. This indicates that the bears are in control and the index is likely to fall further in the short term.
The next major support level for Nifty 50 is 19400. If the index breaks this level, it could fall to 19300 or even lower.
On the upside, the immediate resistance level for Nifty 50 is 19600. If the index manages to close above this level, it could rally to 19688 or even higher.
However, the overall bias for Nifty 50 is bearish. This is because the market is in a downtrend and the index has broken a key support level.
**Trading Strategy:**
Traders can sell Nifty 50 at the current levels with a stop loss above 19600. The target for this trade is 19400 or 19300.
Traders can also buy Nifty 50 at 19400 with a stop loss below 19300. The target for this trade is 19600 or 19688.
It is important to note that this is just a technical analysis and traders should always do their own research before making any trading decisions.
**Disclaimer:** This is not financial advice.
**Support Levels:**
* 19400
* 19300
**Resistance Levels:**
* 19600
* 19688
**Overall Bias:** Bearish
**Analysis:**
Nifty 50 closed below its support level of 19500 on October 9, 2023. This indicates that the bears are in control and the index is likely to fall further in the short term.
The next major support level for Nifty 50 is 19400. If the index breaks this level, it could fall to 19300 or even lower.
On the upside, the immediate resistance level for Nifty 50 is 19600. If the index manages to close above this level, it could rally to 19688 or even higher.
However, the overall bias for Nifty 50 is bearish. This is because the market is in a downtrend and the index has broken a key support level.
**Trading Strategy:**
Traders can sell Nifty 50 at the current levels with a stop loss above 19600. The target for this trade is 19400 or 19300.
Traders can also buy Nifty 50 at 19400 with a stop loss below 19300. The target for this trade is 19600 or 19688.
It is important to note that this is just a technical analysis and traders should always do their own research before making any trading decisions.
**Disclaimer:** This is not financial advice.