Nifty nearing Channel top again, Can it break the glass ceiling?

8 ביוני

Nifty is nearing the Channel top again, Can it break the glass ceiling is the question the current top of the channel remains somewhere between 23303 to 23422. If we get a closing above 23422 the floodgates / glass ceiling towards new Nifty highs will be broken. The door towards new record highs of 23772 or even 24369 will be open. In case Nifty is not able to cross 23303 or 23422 the support levels for Nifty will be at 23091, 22793, strong support of 22762 (50 hours EMA) and 22580 even stronger support of (200 hours EMA). Nifty rally turns negative and bears come out of comma if we get a closing below 22500 (Very unlikely). In that case bears can drag the Nifty towards 21984 or 21577 region.