Nifty may take a snap recovery on 29th Jan'21!
+ Price taking support at golden fibonacci level (61.8%) and 50EMA, between 13,705 - 13,750 Levels
+ Day is closed with a Doji candle at the bottom of Bollinger Band
+ Fibonacci level, Bollinger Band bottom, 50EMA... is making the area of confluence and signifying indecision and possibilities of 'U' turn
+ A strong bullish candle on 29th Jan, lead to formation of Morning Doji Star
- Higher selling pressure can be witnessed, if price breaks 13,450 levels
Reco:
*Target: Spot price 14,100
*Stop Los: Spot price falling below 13750
Regards,
Ravi Bhadrappa
+ Price taking support at golden fibonacci level (61.8%) and 50EMA, between 13,705 - 13,750 Levels
+ Day is closed with a Doji candle at the bottom of Bollinger Band
+ Fibonacci level, Bollinger Band bottom, 50EMA... is making the area of confluence and signifying indecision and possibilities of 'U' turn
+ A strong bullish candle on 29th Jan, lead to formation of Morning Doji Star
- Higher selling pressure can be witnessed, if price breaks 13,450 levels
Reco:
*Target: Spot price 14,100
*Stop Los: Spot price falling below 13750
Regards,
Ravi Bhadrappa
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.