NIFTY STUDY FOR MEDIUM TERM

Apr 17, 2018

Nifty Spot had given Single side blood bath rally from 11150 to 9950 in month of Feb 18 & March 18, from where Nifty manage to bounce back to fibonacci levels of 0.382(Good Resistance & Reversal Point), if Nifty manage to sustain above 10480, then we can expect Nifty at levels of 10580-10730, which is again very Strong Resistance & Reversal Point of fibonacci levels of 0.50 & 0.618 as well as C point of ABCD pattern (where AB=CD). If Nifty Spot move towards C Point we may see aggressive profit booking, if Supported by Political & Economical tension ,then it can drag Nifty till levels of 9500, which can be life time opportunity to construct the portfolio at lower levels. As a market watcher Levels of 10500 - 10580 - 10730 cannot be ignore to decide next trend for Nifty.