Nifty in a mild resistance zone after making a new ATH.

1 apr

Nifty in a mild resistance zone after making a new ATH. After making a new ATH at 22529.95. As it did not close successfully above the previous all time high that is 22526 it has become a mild resistance. Momentum is good for it to make a new ATH tomorrow but the resistance may act again if it is not a gap up opening above the same level. In case of Nifty not able to cross and close above the hurdle the supports will be at 22434 and 22350. 22214 to 22252 is a strong support zone as of now. Resistance zone will be 22500 to 22529. If that resistance is successfully taken down the next resistance will be near 22597, 22690 and finally 22787. Shadow of the candle is looking neutral but the momentum can be helpful.