merushi22

NIFTY WEEKLY CHART ANALYSIS

NSE:NIFTY   Nifty 50 Index
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After two big major events NIFTY has bounce back very sharply from its recent low and trading in downward channel . Medium term trend is down. Nifty has two support areas according to the Fibonacci price cluster i.e 8067.67-8167.48 & 7825-7952. RSI is trading at 48 which may find support at 40 level. Nifty once again may test first support area from where we can see a bounce back till 8600 level.