Nifty Technical View

2023年2月20日

A recovery is likely if the nifty stays above 17800, the day's low. On the higher end 18150 will act as resistance.

Nifty has formed a small bodied bearish candle on with long upper and lower shadow on the daily time frame, indicating the tug of war between the bulls and the brears. As long as nifty holds 17850-17900 levels, consolidation will continue in the coming session, with resistance at 18100-18200.
The data indicates that 18000 will be the crucial level to watch in the coming session, with support at 17800 strike and the resistance 18100 strike because most of call and put open interest was reflected in 18000 strike.

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