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An extract of Nifty View of October 16,2018suggested: “  On the ascent, an importantresistance exists at 25503 mark. If this is crossed, then the next resistanceis expected to emerge at 25705 mark, based on the demand pressure. “ And theHIGH of the day was at 25704.75


For Wednesday,October 17, 2018,the trend deciding point for the day for Nifty emerges at 10498mark.Onits down move Nifty is expected to take support around 10498mark. If this markis broken due to strong selling pressure, then the next support is expected toemerge at 10457mark. But this will be possible only if there is a sharp downmove. On ascent, the first resistance exists at 10664mark. A sharp up move canmake nifty cross this level and make it reach to 10710mark, the second weeklyresistance, depending on the demand pressure, Anintermediate resistance stands at 10629 mark.  If there is not much demand, then Nifty can reversefrom here for downside, instead of10664mark. On the other hand, an intermediatesupport exists at 10550mark. If there is not much supply, then Nifty canreverse from here for upside, instead of 10498mark.

ForWednesday, October 17, 2018,,the trend deciding point for the day for Bank Niftyworks out at 25440mark.Thus any fall in Bank Nifty towards this level of 25440shouldget a support. If this support zone is broken due to strong selling pressure,then the next support is expected to emerge around25292mark, depending on thesupply pressure. But this is possible only if there is a sharp down move. Onthe ascent, an important resistance exists at 25841mark. If this is crossed,then the next resistance is expected to emerge at 25944mark,based on the demandpressure.

For Wednesday, October 17, 2018, the trend reversal point for Nifty stands at 10371in spot. Any close BELOW 10371 in spot on Wednesday will change the trend inNifty to NEGATIVE.Again,that for Bank Nifty, this level stands at 24920 in spot. This implies that aclose BELOW 24920 on Wednesday for Bank nifty in spot will change the trend inthat index in to NEGATIVE.

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