Nifty is correcting from ATH on 30 Apr 2024 at 22794 and we are 8 days away from it. Nifty has made a Swing Low at 21777.65 at 9:00 am on 19 Apr 2024. So the 11 May 2024 is important. Friday 10 May 2024 closing will be important timewise. From the ATH we have retraced 800 points nearly within the range of 1000 points. The Current Lows are 22185.60 and 22185.20 at 9:00 am and 10:30 am a double bottom on the index. From the double bottom we have retraced nearly 200 points and closed the day at 22302.50.
On charts we see the range of 22309 and 22251. This range can be used for scalping. Breakouts or Fake-outs to be used for trading with suitable stop loss as per your risk profile. Extended targets on either sides could be 22424 and 22185 and further depending on the volatility of the day.
Happy Trading !!!
On charts we see the range of 22309 and 22251. This range can be used for scalping. Breakouts or Fake-outs to be used for trading with suitable stop loss as per your risk profile. Extended targets on either sides could be 22424 and 22185 and further depending on the volatility of the day.
Happy Trading !!!