Good morning friends,
Definitely I was not expecting this bounce. The moment it crosses 17960-17970, it added great sign of fueling for upside. It looks like after Diwali, money and momentum came back in the market.
Now 18000 should be a trading support and 17950 should be a trading support. You can have a look on above chart where I have drawn an upward trading channel.
If this trading move sustain then we can expect a target of 18350 and then on fresh claim we can expect a new all time high. Opps, too early to say. Right now, first we have see how Nifty treat 18150.
Be careful at 18150 and 18000 levels. These can be dicey levels.
Happy Trading.
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