Nifty marches on!
Nifty has pushed through important resistances between 11600-11650 with relative ease.
Now, the next hurdle remains to be conquered is 11800!
Will it or will it not?
![](https://mlapl2auja99.i.optimole.com/w:1024/h:610/q:mauto/f:best/https://tradingwithdyr.com/wp-content/uploads/2020/10/nifty-1.png)
Well, the Nifty is extremely overbought near the extremely important level.
We are yet to break out above the high of 31/08/2020 as it was a Key Reversal Day which saw the market plummet almost 1000 points.
If the Bulls have to continue to dominate, they will have to push through 11794 with a strong vigor while the close below 11600 could spell the trouble!
What’s up with Nifty Bank?
![](https://mlapl2auja99.i.optimole.com/w:1024/h:571/q:mauto/f:best/https://tradingwithdyr.com/wp-content/uploads/2020/10/bnf-1.png)
The Nifty Bank is at a crucial juncture at around 23000 and is highly overbought.
If it breaks through 23000, then we are looking at a rally towards its 200 DMA at 23868.
The markets are awaiting the RBI Policy announcement expected on 09/10/2020.
I would advise caution at these levels ahead of an important news!
There are no signals as far as my Swing Trading Strategy is concerned!
Have a great day ahead!