Nifty Ended the day at 10616.60 up 40 Points as compared to the previous Close
On the Daily Chart, it was a narrow range day considering the current volatility. Nifty Futures only managed to touch yesterday’s high at 10680 and fell by roughly 60 Points to Close at 10623.
We had a Swing Bottom at 10030 from where Nifty rebounded to Make swing high of 10680. There is a strong Resistance at 10700-10750 Range from Where Nifty Last fell and bears were in control.
Today, All broader Indices were positive along with Sectoral Indices. Volatility Index fell by 1.5% .
Bank Nifty managed to close the expiry day at 26154 up 225 Points. The Banking Index has successfully managed to close above 26000 Levels post-September correction.
#Nifty is currently forming a W Pattern where the prices are currently consolidating the at the upper trading range. there is a small flag pattern in Nifty visible on hourly charts and if bulls successfully manage to close it above that we may see higher levels. Currently Nifty has Strong support at 10500-10525 Levels and resistance comes at 10700-10720 Levels. A breach beyond these points would have higher resistance at 10801 levels on higher side and 10350 on the lower side.
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