1. #NIFTY50 has now retested 16800-16840 Support Zone 5 times in 4 Months.
2. It is bearish as long as trading below 17300 DCB.
3. 16800 is by default an all important support which once broken and sustained on closing basis may force NIFTY to retest Support 1 and 2 as mentioned.
4. It's too early to call out for such falls but as a trader one needs to know the levels. Personally I feel 16800 would be able to save itself. Let's see!
5. Once able to close above 17300, 17400-17450 would be tough resistance to break, and thus our 1st Target.
6. News based falls are highly volatile. So one needs to be tight in SL and light on positions.
7. Consult your financial adviser before investing. If worth it, do Like, Share and Comment.
2. It is bearish as long as trading below 17300 DCB.
3. 16800 is by default an all important support which once broken and sustained on closing basis may force NIFTY to retest Support 1 and 2 as mentioned.
4. It's too early to call out for such falls but as a trader one needs to know the levels. Personally I feel 16800 would be able to save itself. Let's see!
5. Once able to close above 17300, 17400-17450 would be tough resistance to break, and thus our 1st Target.
6. News based falls are highly volatile. So one needs to be tight in SL and light on positions.
7. Consult your financial adviser before investing. If worth it, do Like, Share and Comment.
Trade closed: target reached:
17414 High!