Nifty 50 IndexUpdated Nifty bounced from important support
Nifty has taken support which was resistance before and it looks like it has re-tested it today.
This support has acted as resistance multiple times since many years.
IF this support is broken, then we may see bigger fall.
Tomorrow close is important to decide Nifty's next move.
We also may see a reversal for short period of time as RSI is in oversold zone.
Disclaimer: I am not sebi registered. This chart is for educational purpose. Pls consult your technical advisor before investing.
This support has acted as resistance multiple times since many years.
IF this support is broken, then we may see bigger fall.
Tomorrow close is important to decide Nifty's next move.
We also may see a reversal for short period of time as RSI is in oversold zone.
Disclaimer: I am not sebi registered. This chart is for educational purpose. Pls consult your technical advisor before investing.
Note
Multi-year trendline which was resistance then but acting as support now.
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