After breaking through 10100 and 9950 supports, Nifty seems to be in a strong bearish trend.
Moving Average crossover on the chart in 1 hour time frame also confirms the same.
Nifty has a minor swing low at 9800 after which the next strong support lies at 9600.
9600 levels are also at a 50% Fibonacci retracement of the last bullish leg.
Moving Average crossover on the chart in 1 hour time frame also confirms the same.
Nifty has a minor swing low at 9800 after which the next strong support lies at 9600.
9600 levels are also at a 50% Fibonacci retracement of the last bullish leg.
Comment:
NIFTY opened gap down & bounced back from the 9600 support zone.