We have noticed that the abc' corrective is completing near 9688 and Nifty’ bounced back from there. It crossed the 9850 resistance first, then the breakeven point 9921 ie: the start of wave v of C and reached 9989 ie: the 61.8% of the total fall from10179. Currently nifty’ is having strong support near 9850. The structure seems to be corrective in nature as it took more time to reach the 61.8% level. Sustain above this level we can see new high. Otherwise the fall will continue to the expected 9300 level.
Nifty': 9980 Day Pivot: 9959
Above 10011 today’s Resistances are 10031_10063_10095 & 10114
Below 9948 today’s Supports are 9928_9897_9865 &9845
Weekly Pivot:9933
Weekly above 10042 Nifty’ Resist: will be 10081_10144_10207 & 10245
Weekly below 9917 Nifty’ Supports will be 9878_9815_9753 & 9714
Monthly Pivot:9885
Monthly above 9884 Nifty’ Resist: will be 9943_10038_10134 & 10193
Monthly below 9693 Nifty’ Supports will be 9634_9539_9443 & 9384
Nifty': 9980 Day Pivot: 9959
Above 10011 today’s Resistances are 10031_10063_10095 & 10114
Below 9948 today’s Supports are 9928_9897_9865 &9845
Weekly Pivot:9933
Weekly above 10042 Nifty’ Resist: will be 10081_10144_10207 & 10245
Weekly below 9917 Nifty’ Supports will be 9878_9815_9753 & 9714
Monthly Pivot:9885
Monthly above 9884 Nifty’ Resist: will be 9943_10038_10134 & 10193
Monthly below 9693 Nifty’ Supports will be 9634_9539_9443 & 9384