NIFTY ANALYSIS YOU WILL NEED FOR COMING DAYS & WEEK (CHART# 302)

Aug 8, 2020

SUPPORT & RESISTANCE ANALYSIS:-
NIFTY is trading at very important level and it trying to break resistance line running since "All Time High" (ATH) - highlighted in red colour.
Also there is support line running since recent low of 7500 levels - highlighted in green colour.
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Closing above 11320-30 on daily basis would mean breakout from this important resistance line
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FIBONACCI ANALYSIS:-
Along with this if we draw FIbonaaci from ATH to ATL (7500) levels, we see that 78.6% levels stand around 11390. Historically NIFTY has followed 78.6% retracement and this makes it very important level to cross for any up move.

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Piyush Gupta

Aug 8, 2020

Note

Check RBLBANK chart which was posted 2 weeks back but given breakout on Friday.

Aug 8, 2020

Note