Nifty50 positional analysis

Apr 22, 2023

• Nifty the benchmark is currently placed at 38.2%
  retracement along with 20 ema on the weekly chart!
  
  The 17500-17550 zone has multiple moving average clusters.
  
  the trend is still strongly in favor of bulls
  
  the index is placed at trendline support too.
  
  the major concern: the open = high candle formed due to poor infy results is a pain point.
  
  talking about levels:
  Support for the index comes at 17550 followed by 17220-200 while resistance is placed at 17870 and 18130 zones
  
  with earning season on, expect a surprise on the cards!!
  

Jul 4, 2023

Trade closed: target reached