Quote on today`s Nifty 22 October 2021 by Rohit Singre, LKP Securities
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Below is quote on today`s Nifty 22 October 2021 by Rohit Singre, Senior Technical Analyst at LKP Securities
"Index closed a week at 18114 with loss of more than one percent on weekly basis and formed a dark cloud cover candle pattern on weekly chart which is bearish reversal candle pattern by nature so if we slipped below 18k mark we may see short term reversal in index. The index has formed consecutive bearish candles throughout this week which hints bears are trying to grip the market from higher levels & which will be possible if we drag below the 18k mark in the coming week, immediate supports for nifty is coming near the 18k mark followed by 17950 zone if index managed to hold above 18k mark one can expect a swift pullback & resistance is coming near 18250-18350 zone"
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