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Daily Technical View on Nifty

* Yesterday, Nifty opened down by almost 300 points at 17771

* Nifty’s open and low was same in yesterday’s session, which indicates bullish sentiments.

* Nifty recovered more than 300 points from day’s low towards 18091

* Bank Nifty outperformed Nifty with good margin by risingmore than 1.2%.

* Bank Nifty registered a recovery of more than 1300 pointsfromthe day’s low

* Breadth significantly recovered post opening of the markets

* Nifty has closed above the 18000 mark for the second consecutivesession

* Nifty isin to continuation of an uptrend

* Next resistances for Nifty are seen at 18114 and 18350.

* Supportforthe Nifty isseen at 17770

* Indicators and oscillators have been showing strength on daily and weekly charts

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