Support and Resistance
#NIFTY #SPOT #DAILY #CHART #NIFTY #SPOT #DAILY # CHART: Friday Nifty Price Has Broken Down and Closed 20 EMA which is 1st sing of losing bullies momentum. Nifty can hold 11800 levels as it is the 1st Support area on the chart and also option chain showing good built upon 11800 CE. Today we will be at selling side of in index till we reach 11800 marks.
Nifty Inside Bar and Divergence ComboWe can clearly see the price struggling to breakout of the Weekly Levels. In the Daily, we can see a Negative Divergence with RSI (orange line) followed by Double Red Inside Bar. If today, the price breaks below the yesterday's range, we can expect quick down move.
Nifty OutlookNifty Outlook:-
No Trade Zone: 11870-11950
Resistance Zone: 11950-11965
Resistance Zone: 12020-12040
Support Zone: 11850-11870
Support Zone: 11800-11820
Fresh Buying Zone: 11950-11965 - If it will able to sustain this zone.
Fresh Sell Zone: 11850- If it will sustain below this for the target zone: 11800-11750
tgram at jtradingview