NIFTY 50 Fibonachi levels
NIFTY 50 on Monday and Tuesday gave a little pullback from the 38.2% fib level indicating that the underlying of Indian Stock market is still bullish. 16900 is immediate support for Nifty 50 and if slipped below, 16400 will act as strong support area. Buy on dips seems like the best strategy for now, breakout will occur if 17600 is sustained on closing basis.
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