Nifty looks bullish on daily and weekly timeframe
Sgx has given close near 17500, which is ~ 170 points above Friday nifty closing.
On Nifty, 17300 reason was Point of control region, where majority of price action happened during this correction phase. Now it has crossed that resistance, next resistance is at 17600-17650 level, where downward channel target will be achieved. If it holds above it, it will unfold the level of 18000-18100 level, which is very unlikely to happen in current scenario. Supports levels are17300 and 17000.
On Nifty, 17300 reason was Point of control region, where majority of price action happened during this correction phase. Now it has crossed that resistance, next resistance is at 17600-17650 level, where downward channel target will be achieved. If it holds above it, it will unfold the level of 18000-18100 level, which is very unlikely to happen in current scenario. Supports levels are17300 and 17000.
