Nifty forms long bull candle on weekly charts. What should traders do next week

Nifty formed a green candle with a long lower shadow, indicating buying in lower zones as bulls take comfort in falling India VIX. Analysts suggest that Nifty should continue holding above 18250 zones to witness upward momentum towards 18400 and 18442 zones, with downside supports in place at 18181 and 18081 marks. Technical charts suggest a broader trading range between 17900 and 18500 zones, with an immediate range between 18150 and 18450 zones. As long as the index remains above 18200, the overall trend is expected to remain positive, but traders should keep an eye on resistance at 18400.

Generated by Feedzy