Nifty up and testing 200DMA levels
Nifty opened up yesterday, but because of the lockdown announced in China, all global markets showed panic and crashed. Markets are again consolidating today and moving in upward directions. A significant concern for all economies was rising Crude oil prices, and finally same is also receding.
Significant resistance for NIFTY will be 200 DMA levels at 16980. If the market can sustain over 16980, we may see a powerful upward movement in Nifty.
Resistance levels based on GANN Square of 9 are 16950 and 17600 and based on Fibonacci are 17140, 17227, 17371.
Support levels based on Gann Square of 9 are 16300, 15700 and based on Fibonacci are 16813, 16685, 16557, 16391.
Smoothed Heiken Ashi, Follow Line Indicators and Super Trend are green in 5 min, 15 Min, 30 Min, 1 Hr and 4 Hr charts. The daily chart Follow Line indicator is green, but Smoothed Heiken Ashi and SuperTrend indicators are still red.
Significant resistance for NIFTY will be 200 DMA levels at 16980. If the market can sustain over 16980, we may see a powerful upward movement in Nifty.
Resistance levels based on GANN Square of 9 are 16950 and 17600 and based on Fibonacci are 17140, 17227, 17371.
Support levels based on Gann Square of 9 are 16300, 15700 and based on Fibonacci are 16813, 16685, 16557, 16391.
Smoothed Heiken Ashi, Follow Line Indicators and Super Trend are green in 5 min, 15 Min, 30 Min, 1 Hr and 4 Hr charts. The daily chart Follow Line indicator is green, but Smoothed Heiken Ashi and SuperTrend indicators are still red.
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