Nifty going into strong resistance zone

2 Şub 2022

Nifty is looking powerful but heading towards the resistance zone. Resistance here is likely at 17813, 17927 and very strong resistance of 17974 before it can crack 18K once again. FIIs are still not convinced as of today and were net sellers but are taking new positions. DIIs are unstoppable and are net buyers even in Frist 2 days of February. Support on the lower side will be at 17698, 17674, 17622 and below it 50 days EMA of 17555. Below 17555 again the market will be taken over by bears.