Nifty'50 Support & Resistance Zones for 29th Jan'21

NSE:NIFTY   Nifty 50 Index
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


Buy 14,100 Calls (CE), if price sustains 13,945 on 30/60mins TF
Target: Spot price 14,100
Stop Los: Spot price falling below 13750

Ravi Bhadrappa


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