Quote on today`s Nifty 18 August 2021 by Rohit Singre, LKP Securities
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Below is quote on today`s Nifty 18 August 2021 by Rohit Singre, Senior Technical Analyst at LKP Securities
"Index opened a day with a strong gap but profit booking from higher-end led index closed in negative territory at 16569 with loss of nearly half per cent and formed a bearish candle after forming bullish candles for four consecutive sessions. The index has formed dark cloud cover candle pattern on the daily chart which is bearish reversal candle pattern by nature, the index still has good support zone at 16500 if broke then we may see more profit booking comes in & we may see index dragging towards 16400 zone and now resistance is coming near 16630-16700 zone"
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