Nifty Futures Analysis, Nifty at crucial level.
The Nifty is likely to retrace and rise further, if it breaks the resistance line and stays above 17500, we may see new highs in the short to medium term. On the downside, major support should be around 17000-16500. Current scenerios, news is always going to have a major impact.
BankNifty Futures has formed Cup & Handle Pattern
usually this is Bullish Pattern
If breakout and sustain above 34800,
we may see levels of 35400-35800.
Nifty Medium Term View
> Technically it is more likely to give breakout on upside.
> Omicron threat may drag it down and make it worse.
If it gives breakout on upside and sustain, resistance will be 17650-18200-18600.
On the downside support will be around 16400-15930-15460.
Nifty 3 Bullish Move
A Double Bottom, Short Term Trendline Break and Resistance Level Break.
Current trend is uptrend, it may retrace and continue to Resistance level 17600.
On the downside support is around 17000.
RSI level is bullish.
Nifty and BankNifty kind of Similar Chart.
Fibonacci 0.5 level retraced.
Resistance around 37475-37800
Support around 37000-36800
..
Again negative concern if green trend line breach.
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Silvermini
Bull Flag Pattern
Wait for Breakout! If break and close above 67500 we may see level of 69000.
On the downside, support is around 66000-65000.
NIFTY 50 at Crucial level
If Break out we may see level of 18290 in coming days.
If Breakdown of Red Trend Line we may see level of 17625-17385.
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