Hi,
The Nifty50 gap down opened -109 paints and closed -89 points with volatile of 190 points. Illustrate the 15minuts chart, opened below S2 and moved upward to S1 reached high of 17708 then immediate fell from there to below S3 level 17532. It took good support from there and bounce back to CPR BC-17722 today’s high act as Resistance from there again fell to below S2 and finally settled near S2 17629. Today most of the traded done in between Pivot to S3 2 bounces in upward and 2 bounces downward. If you see the market moment up and down around 600 points its heavy volatile session today.
If draw the Fib retracement levels for the day chart the output of support and resistance levels are as follows for tomorrow trades.
Resistance-R3-17819,R2-17737 & R1-17673
Pivot – 176280, BC- 17627 & TC 17629
Support – S1-17583, S2-17528 & S3-17438.
If Nifty50 sustained above 17735 the bull remains and move upwards further17820, 17915 then 18000
If Nifty50 sustained bellow 17620 it will turn to bear side and ready to retrace the level of 17525 then 17400. If close break below 17400 heavy selling pressure will occur.
So, we have to be in very careful to watches the above levels and do the successful trade.
Disclaimer: Not SEBI registered advisers. It is my own analysis by my past experience. You may consult with your finance adviser for your action.
The Nifty50 gap down opened -109 paints and closed -89 points with volatile of 190 points. Illustrate the 15minuts chart, opened below S2 and moved upward to S1 reached high of 17708 then immediate fell from there to below S3 level 17532. It took good support from there and bounce back to CPR BC-17722 today’s high act as Resistance from there again fell to below S2 and finally settled near S2 17629. Today most of the traded done in between Pivot to S3 2 bounces in upward and 2 bounces downward. If you see the market moment up and down around 600 points its heavy volatile session today.
If draw the Fib retracement levels for the day chart the output of support and resistance levels are as follows for tomorrow trades.
Resistance-R3-17819,R2-17737 & R1-17673
Pivot – 176280, BC- 17627 & TC 17629
Support – S1-17583, S2-17528 & S3-17438.
If Nifty50 sustained above 17735 the bull remains and move upwards further17820, 17915 then 18000
If Nifty50 sustained bellow 17620 it will turn to bear side and ready to retrace the level of 17525 then 17400. If close break below 17400 heavy selling pressure will occur.
So, we have to be in very careful to watches the above levels and do the successful trade.
Disclaimer: Not SEBI registered advisers. It is my own analysis by my past experience. You may consult with your finance adviser for your action.