Although Nifty almost hit a lifetime high at 18,881, it formed a bearish reversal pattern and ended 71 points higher. Nifty has been making higher highs for the past five sessions, but now there is pressure and profit-booking at higher levels. For an uptrend, Nifty has to cross and maintain above 18,777 zones. The support levels are at 18,710 and 18,676 zones. According to technical analysts, Bank Nifty is playing spoilsport and preventing Nifty from reaching an all-time high due to the head and shoulders pattern.
