Arrowmoney
Short

Nifty Inverted Cup and Handle Pattern

NSE:NIFTY   Nifty 50 Index
Nifty view for this week

Chart Pattern Shows 2 Observations
- Inverted Cup and Handle Pattern, Which shows Strong Bearish Move Below 11600
- Clear Down Trend Channel
- Fibonacci Retracement view shows, Market is taking support near 50%=11619
- Normally Nifty takes Support at 61.8% Retracement Level Which is 11506
- So 11500 is Very Very Important Support to hold for this Up-Trend
- If breaks Below 11500 we may see
78.6%=11344
100%=11137

Currently Strong Resistance Formed at 11841, sustain above this will neglect this Bearish view.

Open Interest Data:
12000 Strong Resistance & 11700 Strong Support

Disclaimer: All the Recommendation/View Given in Arrowmoney are only for internal study purpose. Consult your financial adviser before making any investment decision.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out