Nifty rising in a steep Channel, but will the momentum sustain?

2022年1月16日

Nifty is rising in a steep channel the momentum can sustain if important resistances are taken down. Resistances on the upper side are 18294, 18345, 18440, 18510 and finally the ATH high of NIFTY which is 18606. The supports on the lower side are 18133, 17973, 17819, 17617 and finally 17553 which is 50 EMA. Below 17553 weekly closing the bears will take control of the market for a while. The next week will decide if we will see a new high or there will be more consolidation.