Nifty making higher high of 12021.4 and facing resistance at the top which is exactly the level we predicted in yesterday’s BLOG i.e. 12003 and correcting to the level of 11946.85 drawing DRAGON FLY DOJI on daily charts which again a indecisive candle stick pattern .
Nifty again in a consolidation face which indicates it will move in a range and breakout on side may lead sharp move of indices on either side.
Support and resistance levels for today
SUPPORT – 11920 – 11839
RESISTANCE- 12034 – 12084
Bank Nifty also making higher high and facing resistance exactly at the level which we predicted in yesterday’s BLOG i.e. 30800 and making high of 30821.35 and correcting to the level of 30462.55 and our support level was 30450 which is a perfect predicting level of Bank Nifty .
Support and Resistance level for today
RESISTANCE- 30875 -31080
There are negative divergences in NIFTY in intraday charts and in BANK NIFTY in Daily and intraday charts both.
One of the moving average indicator of indices BOLLINGER BAND is contracting in intraday charts which suggests that it will expand and give wild move on either side.