Again invariably Mid-Channel line comes to rescue.

Again invariably Mid-Channel line comes to rescue as the NIFTY failed to make new All Time High today after coming very very close to the top. When you are near the top or while bottom is forming volatility will be at it's peak as near the top there will be profit booking and near the bottom there will be loss boking. Spot Nifty Supports and resistances are as under:

Nifty supports: 18717, 18637, 18555 and finally 18482. Below 18482 Bears will come out of coma and will try to regain control.

Nifty Resistances: 18784, 18826, 18865 and finally 18887.6 (Previous Top).

Top of the current channel can be between: 18887.6 and 19020.