Ravi Nathani expects Nifty to hit 18,400; cautions on Pvt Bank

According to the technical analyst, the Nifty 50 is expected to get strong support in the range of 17,925 to 18,000.

Nifty 50

Bias: Bullish

Last close: 18,027.65

Last week, the Nifty index, gave a fresh breakout on daily charts, which is a technical analysis term that refers to a move above a level of resistance or a move below a level of support.

This breakout indicates that the market is showing signs of strength and that utilizing a correction-based trading strategy, which involves buying stocks at lower prices during market corrections, would likely be the most advantageous approach for traders.

Additionally, based on analysis and market indicators, it is expected that there will be strong support in the range of 17,925 to 18,000, which means