The cluster resistance around 17620-17500 mark has now turned into a support base complimenting - Tradebulls Securities
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/01/34d24ca3cc72cd0c8e148b56c455f44a.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
Sustenance above 17970-18000 zone post the multiple doji formations is a good sign of incremental strength as unwinding of shorts could amplify the momentum upward . It has been holding above its 5DEMA support zone 17810 which now becomes the trail stop for the on-going weekly momentum. The trend strength indicators are placed well for continued strength as ADX has breached above its 25 mark & trending confidently at 29 with RSI yet to hit its overbought reading. The cluster resistance around 17620-17500 mark has now turned into a support base complimenting well with its option buildup. Strategy remains intact to keep buying with a revised stop below 17620 for positional swings while on- going momentum could be participated with a stop below 17810 on closing basis from hereon.
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://www.tradebulls.in/Static/Disclaimer.aspx
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/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Indiateam57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/munishakhatwal57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/tatapower57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/MP Ahammed.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Fintech Pre-budget expectation.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/uttarpradesh57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget_3.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Cyberpeace.jpg)
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/2021/06/21d1b612fba5015d55e13e2117e88c16.jpg)
India VIX increased by 2.97% to close at 17.39 touching an intraday high of 17.96 - Nirmal Bang
![The chart pattern suggests that if Bank Nifty crosses and sustains above 44200 level - Axis Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/06/2d13b2b5a9dccbadfb939a5f8ceb4e7a.jpg)
![Daily Market Analysis :Markets started the September series with a strong rebound and gained nearly a percent Says Mr. Ajit Mishra, Religare Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/4e9364edeea426d95580765b9efdd047.jpg)
![Banking index traded under pressure after the initial uptick and ended marginally lower - Religare Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/01/673c5ac166e16956e23e115e3de55b80.jpg)