Nifty Update for 26th October 2021

NIFTY
Nifty Update for 26th October 2021
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A recovery from 18,000 levels was seen in previous trading session lead by the banking stocks.

Index has shown recovery from the psychological support levels of 18,000.

Here's the trade setup for today:

NIFTY has formed a HALF BAT HARMONIC Pattern and if the price sustains above 18,250 we can see the price shoot up to the levels of 18,300/18,350

For buying
18,250 is the key level above that 18,300 will act as a key resistance.

On Higher Time-frames 18,400-18,500 will act as a resistance area.

For selling
Consider selling from 18,050 level, but also consider 18,000 as an important level as it will act as a strong support again.

Consider quick profit booking on both the sides as Index is trading at narrow range.

Trade setup
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Key RESISTANCE is : 18,500
Key SUPPORT is : 18,000

Trade Accordingly!