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For Thursday,August 23, 2018, the trend deciding point for the day for Nifty emerges at 11486mark.Onits down move Nifty is expected to take support around 11486mark. If this markis broken due to strong selling pressure, then the next support is expected toemerge at 11440mark, the weekly trend deciding point. But this will be possibleonly if there is a sharp down move. On ascent, the first resistance exists at11668mark. A sharp up move can make nifty cross this level and make it reach to11710 mark, depending on the demand pressure. An intermediate resistance existsat 11630mark. If there is not much demand, then Nifty can reverse from here fordownside, instead of 11668mark. On the other hand, an intermediate supportexists at 11543mark. If there is not much supply, then Nifty can reverse fromhere for upside, instead of 11486mark.

 

For Thursday,August 23, 2018,the trend deciding point for the day for Bank Nifty works outat 28030mark.Thus any fall in Bank Nifty towards this level of 28030should geta support. If this support zone is broken due to strong selling pressure, thenthe next support is expected to emerge around27812mark, depending on the supplypressure. But this is possible only if there is a sharp down move. On theascent, an important resistance exists at 28471mark. If this is crossed, thenthe next resistance is expected to emerge at 28584mark,based on the demandpressure.

For Thursday, August 23, 2018,the trend reversal point for Nifty stands at 11477in spot. Any close BELOW 11477in spot on Thursday will change the trend inNifty to NEGATIVE.Again,that for Bank Nifty, this level stands at 27989 in spot. This implies that aclose BELOW 27989 on Thursday for Bank nifty in spot will change the trend inthat index in to NEGATIVE.

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