Nifty looks confidently trending above the 17780-resistance zone - Tradebulls Securities
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/09/b02dec274351ef897951e03f10ea1d01.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Nifty
Nifty looks confidently trending above the 17780-resistance zone. The breakout from a week-long consolidationalongwithits daily ADX trending above 25 is a healthy sign for directional momentum to set in. Its relative trend strengthhasbeengood so far as its RSI never slipped below its 50 mark despite the recent correction towards 17166. Sustenanceaboveits5&20 DEMA zone indicates the immediate trend to remain bullish towards 18215 zone which could be participatedwithatrend stop now at 17540. As per the derivative data, the key clusters still remain the same with Highest CE OI concentrationat 18000 while Highest PE OI is at 17000 itself. Hence a breakout above 18000-18060 zone could result intoajumpinvolatility due to sharp unwinding in the coming week ahead which could push the index towards 18200 zone. Theimmediate range to monitor during the week stands at 18000-17600 with 17800 & 18000 being the key strikes togaugeupcoming momentum. Traders should retain existing longs & build further with a stop at 17540 fromhereon&reviewthemonce 18215 is achieved.
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://www.tradebulls.in/disclaimer
SEBI Registration number is INZ000171838
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Gold Jewellery.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Mutual Fund 21.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Utkarsh Small Finance Bank.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/real estate sector_856.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Home Finance_12.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/coocker57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IDBI Bank 1.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/UPI Auto Pay.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Rupee_040124.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/apple57.jpg)
Top News
![](https://portfolio.investmentguruindia.com/uploads/news/c687771a9b4d49d025642f4dd0604506.jpg)
JPMorgan index inclusion shows confidence in Indian economy -India Economic Affairs secretary
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
![Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/5f1fa5f12be5ac87ff9258ea3909f0f8.jpg)
![Market Quote : Benchmark Indices ended the week today just a few percentage away from record highs Says S Ranganathan, LKP securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/f33c3d1dad571464e55a94475ae32892.jpg)
![Daily Market Commentary : Nifty closed higher for the sixth straight day with gains of 93 points (+0.5%) at 19820 levels Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/009b2b15289ce4f7e143526434c946d5.jpg)
More News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/098fa098dbff9120b22065d8280ff0d6.jpg)
Daily Market Commentary : Domestic equities cheered impressive growth in India`s Q1 GDP and ...
![Market is expected to open on a flattish note and likely to witness sideways move during the day - Nirmal Bang](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/01/96603e8a717effb401fc14a92ec50b74.jpg)
![Daily market commentary : Nifty traded sideways for the most part of the session says Mr. Siddhartha Khemka, Motilal Oswal Financial Services Ltd](https://portfolio.investmentguruindia.com/uploads/news/Broker _26.jpg)
![Morning Nifty, Derivative and Rupee Comments as of 24 February 2023 by Anand James, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/02/04ec43ea31f162b24f49fcdbf444047b.jpg)