NIFTY - Key Levels for 18-July

1. NIFTY has formed a falling channel in last 4 months and it has given breakout from it. Channel highlighted in blue color.
2. On hourly time frame, it has formed a Flag pattern which has given breakout on 15July. Flag pattern highlighted in orange color.
3. 15900 has now become a strong support. 16000 is also a psychological level and key support.
4. 16230-40 is key resistance for this week and if NIFTY closes above this then it can try for 16400.

Thanks
Piyush Gupta
Learn & Earn