We can expect an uptrend of 20 to 40 points with keeping 0.236 level as support zone or SL. Here are the reason
-->Rejection to fall, nifty corrected more than 1.5% below. Tata steel was up 1%.
-->After 10.8 % fall from 19th Sep, cycle of correction/fall seems to be halt.
-->Retested 0.236 level & made up move.
-->If trend line is broken on last 15 min chart an uptrend till 0.5 level of fib is expected (20 to 40 points).
(education purpose only, consult your advisor before taking any trades)
-->Rejection to fall, nifty corrected more than 1.5% below. Tata steel was up 1%.
-->After 10.8 % fall from 19th Sep, cycle of correction/fall seems to be halt.
-->Retested 0.236 level & made up move.
-->If trend line is broken on last 15 min chart an uptrend till 0.5 level of fib is expected (20 to 40 points).
(education purpose only, consult your advisor before taking any trades)
Trade closed: target reached:
As Analyzed up move of 40 points achieved.