3. Fibonacci wth (Left Fibonacci)
Level 0: 16410.2, Low of 20th December’21, which also happens to be seasonal Low as per 120 days cycle.
Level 1: 18604.45, All Time High ( ATH ) formed on 19th October’21.
If we look at the 50% retracement level, it comes to around 17507.25 (marked with Green line), while Thursday’s low was 17511, which forms as a support level above this level. The closing also has been also above this level which seems positive.
Today market should open positive and stay above this level.
Weekly trend on RSI & MACD is Bearish.
Level 0: 16410.2, Low of 20th December’21, which also happens to be seasonal Low as per 120 days cycle.
Level 1: 18604.45, All Time High ( ATH ) formed on 19th October’21.
If we look at the 50% retracement level, it comes to around 17507.25 (marked with Green line), while Thursday’s low was 17511, which forms as a support level above this level. The closing also has been also above this level which seems positive.
Today market should open positive and stay above this level.
Weekly trend on RSI & MACD is Bearish.
Comment:
Today's closing again above this 17507 level.