Nifty Prediction for Tomorrow 18 January 2024: Looks like Nifty 50 might drop more tomorrow. It’s been on a downswing recently, closing today at 21,677.20, down 1.55% from yesterday.
Here’s why:
- MACD shows a strong downward trend.
- RSI is below 30 (considered oversold), but it’s still going down, indicating more potential for a dip.
- Nifty is trading below the lower Bollinger Band, signaling bearish conditions.
Support and resistance levels to watch:
- Support at 21,500 and 21,300
- Resistance at 21,800 and 22,000
Overall, the tech indicators suggest a bearish outlook. Brace for a possible further decline tomorrow, testing support at 21,500 and 21,300.
