So today we may see good unwinding of positions and Nifty is ready to test lower levels before rushing upwards.
One thing that needs to be taken care of is that Nifty closed near Fibonacci retracement level and this also shows the strength of bears.
Nifty is now in overbought zone and must show some fall before some frsh upmove can begin.
If Nifty manages to close above 4927 level today then bulls will push it upwards till 4972 level.
Otherwise bears will try to make a killing and force Nifty to retest levels of 4880 and 4860.
| Important Nifty Levels for 18th Feb | ||
|---|---|---|
Nifty Pivot | 4905 | |
| Support | ||
| 4881 | 4859 | 4824 |
| Resistance | ||
| 4927 | 4949 | 4972 |
| Important BankNifty Levels for | ||
|---|---|---|
BankNifty Pivot | 8542 | |
| Support | ||
| 8498 | 8456 | 8415 |
| Resistance | ||
| 8605 | 8652 | 8689 |
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