So, as I said in yesterday’s analysis, Trend has been changed.
Or As we can see in picture,
5th December, On Fib Retracement Level Nifty take support on 18600 at point A.
but resistance was so strong on 18710.
So, after failing 2 attempts to break that level, nifty finally made new low of this month.
Therefore, Resistance @ 18600 and support @ 18500.
But if Nifty Break 18600 level and go up, Don’t rush for buying.
18650 is good level to buy Nifty Future.
(18600 to 18650 is a trap zone…)
So, we can say that nifty will still go down.
Or As we can see in picture,
5th December, On Fib Retracement Level Nifty take support on 18600 at point A.
but resistance was so strong on 18710.
So, after failing 2 attempts to break that level, nifty finally made new low of this month.
Therefore, Resistance @ 18600 and support @ 18500.
But if Nifty Break 18600 level and go up, Don’t rush for buying.
18650 is good level to buy Nifty Future.
(18600 to 18650 is a trap zone…)
So, we can say that nifty will still go down.