NIFTY50 recently retreated from its record peak of 20,300, experiencing a 700 point drop over the past few days. Currently, it hovers around 19,650, which marks the 50% Fibonacci level.
Signs of a potential pause in the selling pressure are emerging. Traders with a higher risk tolerance might consider re-entering long positions at this point, but it's crucial to exercise caution and implement appropriate stop-loss measures.
Signs of a potential pause in the selling pressure are emerging. Traders with a higher risk tolerance might consider re-entering long positions at this point, but it's crucial to exercise caution and implement appropriate stop-loss measures.
Trade active:
Reversal confirmed. LONG Trade Active
Trade closed manually:
Negative global market sentiments.