Nifty has reached an important junction, where
#CoG ( Centre of Gravity) lvl stands at 17627. This alone level is going to play an important role for the coming week.
Below the level of 17627
Important support levels are 17592 - 17507 - 17380 - 17338 - 17230 - 17158 - 17056,. Among these support levels, the 17380-40 zone is a strong support zone.
Above the level of 17627
Important resistance levels are 17704 - 17845 - 17935 - 18134 - 18300
An imp Gannangle level stands at 17935. This level can act as a stiff resistance level. One can look for shorting opportunities near this level.
But, A close above this level will open the gates for 18350 - 18600.
So, one has to be ready to play on both sides if Nifty reaches this level of 17935.
Always look for price action near the levels and then take the trade accordingly.
The budget week is about to approach and so is the volatility accompanying it. We may witness wild swings almost like a roller coaster ride. This is called as Event Cycle at play.
Being nimble-footed & being light is a virtue on a Budget week.
*This analysis is shared only for educational purposes. I am not registered with SEBI, so consult your financial advisor before making any decision.
Thanks for sharing this valuable information with us keep sharing.SBI share price
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