Nifty - Finally the Much awaited correction arrives.
Updated
Everybody was expecting a correction since nifty crossed 9500 but market reacts when nobody expects :). This time it was not an exception as well. Markets taking a steep correction.
Nifty currently taking support at 61.8% Fib Level 9720. One can go long here at CMP 9745 with SL below psychological level 9700 with a target of retest to 10100.
Nifty currently taking support at 61.8% Fib Level 9720. One can go long here at CMP 9745 with SL below psychological level 9700 with a target of retest to 10100.
Note
Stiff resistance at 61.8% Fib level.More power only after sustaining above 9880.
Recommend to short here with SAR stop @ 9910 at closing base
Note
Nifty Hit the SL and came down :(Stay long as it is hovering around 38.2% Fib Level.
Stop loss is 20 points lesser than today's low 9775.
Sharp pullback is expected
Note
Rally arrived as expected. 10100-10120 is stiff resistance zone.Book profit once it reaches the level.
More bull run only if it sustains above 10120
Trade closed: target reached
I Can
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.