In all probabilities, the last rally was an x-wave up completed yesterday at 11523.25 and a fresh down move has started. If Nifty Spot fails to recover above 11404 then this fall may extend tomorrow and if the fall extends also the first resistance of pullbacks will be 11404 in such a case. The fall has been of 156.35 points till date. Going by the previous falls we have observed a minimum 3 days falls have happened always so if no recovery is made tomorrow the fall may extend up to Wednesday. Lower side support is around 11305 and thereafter 11165-11171. T/L and Gann Support are below it closer to 11100.
Monday, September 17, 2018
Update on Nifty Spot
As expected the big gap got filled and 11350 minus S/L now a long may be initiated. for upside, Gap fill up. A pullback rally only is expected. However, 11500 will be difficult for Nifty Spot to clear.
Intraday 17-9-2018
Nifty Future (Bias - Positive)
Weak Below / Strong Above 11507.
Banknifty Future (Bias - Positive)
Weak Below / Strong Above 27167.
Weak Below / Strong Above 11507.
Banknifty Future (Bias - Positive)
Weak Below / Strong Above 27167.
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