Spot Nifty is just under Double Trend line resistance of 17700. Closing above 17700 will open the wide possibilities of Nifty strolling 18K and regaining the level with confidence. As the resistance is very strong and we are currently at 17665.80 a great thing to happen will be getting an gap up opening above the resistance and sustaining it. If it is not gap up opening and we move with confidence defeating the level it will be even better. Also note that 17590 is a strong 50 hours EMA support.
Resistance levels: 17782, 17844, 17989 and finally 18105.
Support levels: 17590, 17425 and 17338. Below 17338 Bears can fight back and drag the index to lowers 17K or even below it to 16.9 or 16.5K levels.
Resistance levels: 17782, 17844, 17989 and finally 18105.
Support levels: 17590, 17425 and 17338. Below 17338 Bears can fight back and drag the index to lowers 17K or even below it to 16.9 or 16.5K levels.
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