Nifty next week trend - 3-8 Oct 2023
Nifty is currently facing resistance at 19718 with support at 19425 level. This resistance and support are based on Trend-based Fib retracement. Break out of 19718 and sustenance above 19750 in daily candle can take nifty to level 20200 on a monthly basis with some resistance at 20000 level.
Also, 50 days EMA is around 19576, and 20 days EMA is 19727 which acts as support and resistance on last Friday. Any break of these two levels can see a sharp up move or down move in both directions. Overall.
Overall, the technical chart structure is positive on Nifty for this week and October month.
Also, 50 days EMA is around 19576, and 20 days EMA is 19727 which acts as support and resistance on last Friday. Any break of these two levels can see a sharp up move or down move in both directions. Overall.
Overall, the technical chart structure is positive on Nifty for this week and October month.
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