NIFTY : 18 OCT

#NIFTY50 Under 1day candle nifty is in range bound between 16750 - 17450.

* DAY CHART TREND ANALYSIS : MILD BULLISH TREND

* 1Hr chart : Crucial resistance at 17350, yesterday nifty fails to take out this resistance. Can assume 17350 act as an strong resistance in
upcoming trading days
* 1Hr TREND ANALYSIS : BULLISH

* TODAYS OI DATA :
CALL OI 17300 : 67L
PUT OI 17300 : 52L
PCR : 0.76

* SECTORS TO WATCH OUT :

BANKING SECTOR - Specifically #SBI

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NIFTY NEXT RESISTANCE 17550

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If breaks 17550, Will expect Short covering of 100 points

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Banking sector can act as an crucial support to take nifty to 17600. Look for index weighted banking. SBI,HDFC, HDFCBANK, CANBK, AUBNK,RBL,INDUSIND,etc.

Huge Gapups are hard to sustain, Nifty may go for consolidation from here on. Take positions wisely, alway look for support and strong resistance.

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Finally, Leave your thoughts.!!
Happy Day's

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Hammer pattern : 15min - Bullish

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* Hammer Pattern, rally (65 points)is facing resistance.
* Look for breakout above 17550, in between Nifty will be in consolidation mode.

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TOP PERFORMER IN BANKING SECTOR : #SBIN , #CANARA BANK.