The dark Violet marked line is our reference moving forward. The whole up-move is truncated now. But Dow Top is yet to form. We need to wait until 7th Oct close. As of now, Sell on Rise until we get a daily close above 17500
Strongest support at 16840 and 16600. Strongest Resistance at 17240 and 17410 There are two out probabilities (Red and Blue paths). Either #Nifty might test 16600 first and bounce or it might get rejected at 17240 and then move down towards 16660. Either way, the trend is bearish and it will turn bullish only above 17410.
17510 is a strong resistance zone and 17100 is a strong support zone. After a freaking rangebound market, expecting good trending moves in the coming week. BankNifty should lead the move. #Reliance structure looks strong.
Nifty is in a triangle consolidation. This week is so important for Nifty for future trending moves. Dow Bottom is placed at 16985, any weekly close below this level will trigger a bigger sell-off.
Essential Supports in N-Spot are 16440, 16340 and 16215 Important Resistances in N-Spot are 16820, 16985 and 17190 Refer Chart for references. The pattern formation looks like it wants to close the gap till 17030 before making trending-down moves. Looking at the events and news, It's going to be a volatile week for sure.
Titan has a resistance at 1263. Keep 1264 as SL, it might or might not break the level. My conviction it to go down from 1260. Let's see.
Federalbank - weak below 91.5. bounce or break mode.