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.
Comments
SaurabhMehra
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not able to understand the levels from the chart... could you please magnify and post it again ?
merushi22
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@SaurabhMehra, Please go through this link it might be clear...If its not working please let me know.
And thank you so much for showing interest in my work. I hope we can learn a lot from each others work.
VadivalPranchi
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Please keep chart some more vivid while posting ideas,
merushi22
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@ajayww2, ok and thanx
merushi22
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@ajayww2, Please go through this link it might be clearly visible. And thanks for showing interest in my work. I hope we can learn a lot from each others trading ideas.