Nifty opened Wednesday 27 october 2021 with a small gap but unable to sustain on highs & showed profit booking resulting closed a day at 18210 with loss of half percent and formed again a bearish candle on the daily chart. Benchmark indices erased the opening gains in the final hour and ended lower with Nifty below 18200. At close, the Sensex was down 207 points at 61143, and the Nifty was down 57 points at 18211.
Index
has formed a strong hurdle zone near 18300 zone and trading below said levels,
we may see some more profit booking but if managed to cross said levels
decisively then next move towards 18450-18550 zone can’t rule out. So fresh
long would be suggested above 18300 zone and on the other hand immediate
support is coming near 18100-18050 zone, also long traders can trail there stop
out below 18k mark.
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Resistance: 18300, 18400, 18500
Support: 18200, 18100, 18000
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