As discussed earlier Nifty has filled the Gap and after that, a bullish movement was seen on Friday i.e. 21st May’21.
It successfully broke and sustained above 15122–15130 levels and now it is heading towards the target of 15254–15430 (i.e Next immediate Resistance zone).
The options data analysis clearly shows that the immediate Resistance is at 15500 and the support is at 15100.
So it’s indicating that the bullish trend will continue in Nifty.
Bank Nifty has also made a strong reversal pattern breakout @34350–34380 (Resistance Zone/Reversal zone).
Closing above these levels also indicates a bullish move in Bank Nifty…
The original date of publishing - July 18, 2020
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What is Support & Resistance?
As I keep on saying that everything is demand & supply, the price of each asset (including but not limited to stocks, bonds, commodities, etc.) is determined by the demand and supply forces.
Buyers push the prices higher and may be referred to as bulls and on the other hand Sellers push the prices lower and hence may be referred to as bears.
Supports & Resistances are the levels on the price chart where demand & supply…
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Chartered accountancy is the core of all business, be it big or small. A chartered accountant’s work involves auditing, taxation, accounting, and financial planning.
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Currency manipulation is when a country is artificially lowering the value of its currency to gain an unfair advantage over others i.e. cheaper exports
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